updated 01:30 pm EST, Tue February 28, 2012
Sanjiv Ahuja resigns as CEO of LightSquared
LightSquared, the hopeful wireless network operator fighting to use spectrum that's said to be interfering with GPS signals, has now lost its CEO, Sanjiv Ahuja, who resigned. The news follows the company's decision to cut 45 percent of its workforce last week. Ahuja will continue to be the chairman of the board for the company, however.
While LightSquared attempts to find a replacement for Ahuja, current Chief Network Officer Doug Smitand along with Chief Financial Officer Marc Montagner will share the COO title.
Another change involves Philip A. Falcone joining the board of directors. Falcone is the CEO and CIO of Harbinger Capital Partners, which invested about $3 billion into LightSquared.
Ahuja was the head of LightSquared since 2010.