Viasat, Inc. Welcomes Gary Chase as New CFO

CARLSBAD, Calif., Aug. 28, 2024 /PRNewswire/ — Viasat, Inc. (NASDAQ: VSAT), a leader in satellite communications, has announced the appointment of Gary Chase as the new Chief Financial Officer, effective September 16, 2024. Chase will be taking over from Shawn Duffy, who will transition to the role of Chief Accounting Officer within Viasat.

Chase joins Viasat from Delta Air Lines, where he served as the Senior Vice President of Operational Finance and was a key member of the company’s leadership team. With over 12 years of experience at Delta, Chase brings a wealth of knowledge in financial planning, analysis, and corporate strategy to his new role at Viasat. Prior to his time at Delta, Chase held senior positions at Barclays Capital and Lehman Brothers in New York.

In a statement, Viasat’s Chairman and CEO, Mark Dankberg, expressed his excitement about Chase joining the company and highlighted his expertise in operational finance. Dankberg emphasized the importance of financial automation and efficiency in supporting Viasat’s growth objectives and integration with Inmarsat.

Chase also expressed his enthusiasm for his new role, stating his respect for Viasat’s mission of providing connectivity globally. He looks forward to working with the executive team to enhance the company’s financial function and drive value for stakeholders.

In addition to welcoming Chase, Viasat expressed its appreciation for Duffy’s contributions as CFO since 2014, during which time the company’s revenues have more than tripled. Duffy will continue to provide financial advisory and governance oversight in her new role.

Before joining Viasat, Chase led the development of Delta’s Operational Finance function, focusing on data analytics and business process improvement. He holds a bachelor’s degree in economics from Union College and an MBA from the Amos Tuck School of Business at Dartmouth.

Viasat is a global communications company that aims to connect people and businesses worldwide. With operations in 24 countries, Viasat is committed to providing high-quality, affordable connectivity solutions across various industries.

As Viasat continues to expand its reach and offerings, the addition of Gary Chase as CFO signals a strategic move towards strengthening its financial operations and driving growth in the competitive communications market. Chase’s experience and expertise are expected to play a key role in supporting Viasat’s long-term strategic goals and enhancing shareholder value. When it comes to the potential risks and challenges that could impact the success of Viasat’s satellite projects, there are several key components to consider. These include factors such as the ability to fully realize the anticipated benefits of the ViaSat-3 class satellites, as well as any potential unforeseen costs associated with satellite initiatives. Additionally, there is a need to effectively execute the company’s business plan for broadband services within the expected timeframe and address any industry constraints that may arise.

Other risk factors to consider include the development, launch, and operation of satellites, including the potential for anomalies or performance issues. Viasat must also navigate changes in the global economic landscape, increased competition, and the reliance on a limited number of third-party suppliers for product development. Furthermore, the company’s level of indebtedness and compliance with debt covenants are important considerations.

It is essential for investors and stakeholders to review Viasat’s SEC filings for a comprehensive understanding of these risk factors. By staying informed and monitoring any updates or revisions to forward-looking statements, individuals can make informed decisions about their involvement with the company.

In conclusion, while Viasat continues to innovate and expand its offerings in the satellite industry, it is important to acknowledge and address the potential risks and challenges that may impact the company’s operations. By proactively addressing these factors and staying vigilant in monitoring developments, Viasat can navigate the complexities of the industry and continue to grow and succeed in the market.