ABS CEO Amit Somani. Photo: ABS

ABS (Agility Beyond Space) is now looking for a new CEO. In its latest full year results, the operator made the surprise announcement that CEO Amit Somani is leaving immediately for personal reasons.

Somani was only appointed in September 2022, and gave his first interview in the role to Via Satellite in November last year. The company has undergone a huge amount of change recently and rebranded as Agility Beyond Space (ABS), moving away from its former name Asia Broadcast Services.

In its financial results, ABS generated revenues of just under $69 million for the 12 months to the end of September. Revenues remained virtually the same compared to 2022. The company also revealed it now has a net debt of $26.1 million, following a $15 million debt pay down since August 2022. The company also highlighted recent contract wins with Axess, IABG, Saudi Net Link and Sonema.

“We have had a good start to our turnaround in this first year under new ownership. Our management team have improved our commercialization by reorganizing our sales function and through technical initiatives aimed at increasing our available capacity. With the creation of a global accounts group our business is positioning to benefit from an increasingly complex geopolitical landscape and an anticipated shortfall in replacement GEO capacity. Our brand has been refreshed to Agility Beyond Space to emphasize our responsiveness to our global customers’ needs with a comprehensive service offering across space and ground segments in a rapidly evolving market for satellite services,” Parm Sandhu, ABS chairman, said in a statement.