February 3, 2020 – Speedcast International Limited advises that the Board has accepted the resignation of PJ Beylier as CEO, effective from 1 February 2020. While the preliminary view of the FY19 result is a little greater than 10% below the Company’s previous guidance, that result includes a number of items (such as procurement savings and sale of minor surplus assets) that do not directly contribute to ongoing earnings. In light of the disappointing preliminary FY19 result, the Board accepted PJ Beylier’s resignation from his role. He remains available to support the management team and the interim leadership over the next three months. A global search for Speedcast’s new CEO has commenced with Russell Reynolds, with a particular focus on Europe and the US for candidates. In the interim, existing Board Directors Peter Shaper and Joe Spytek have agreed to act as co-CEOs of the Company. Peter and Joe will also continue as Directors.