ICO Global Communications has undergone a number of senior personnel changes aimed at reversing the company’s fortunes. An ICO spokesman said the company’s deputy chief executive officer, Fredrik Verkroost, and senior vice president for marketing, Geoff Finch, had resigned. Gardner Grant has been appointed senior vice president and general chief counsel and Michael McLain has been installed as vice president of marketing. Michael Rugala has been appointed vice president of sales and regional distribution for Asia. Rugala’s role is also to make sure investors are "properly looked after".

The spokesman said: "We are bringing in fresh blood. We are bringing our regional concerns more to the centre of our operations. Overall, our main objective is to consolidate our corporate functions."

The moves mirror those in Iridium, which adjusted its strategy two months ago to increase its sales force and offer greater support for its regional service providers. This latest announcement by ICO is expected to give the company closer ties with its market.

The spokesman added that Richard Greco, ICO’s relatively new CEO is "slowly appointing his team". He said ICO had not set a timescale in which to turn the company’s fortunes around.