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United States. Securities and Exchange Commission

EchoStar Corporation Appoints Hamid Akhavan as DISH CEO

Strategic Insights

— 1 min read

EchoStar Corporation has filed a Form 8-K with the U.S. Securities and Exchange Commission announcing the appointment of Hamid Akhavan, the current Chief Executive Officer and President of EchoStar, as the new President and Chief Executive Officer of DISH Network Corporation, effective November 13, 2023. This move follows the Amended and Restated Agreement and Plan of Merger between EchoStar and DISH, which was entered into on October 2, 2023.

Key Takeaways:

  • EchoStar Corporation, a Nevada-based company, has appointed Hamid Akhavan as the new President and Chief Executive Officer of DISH Network Corporation, effective November 13, 2023.
  • This appointment is a result of the Amended and Restated Agreement and Plan of Merger between EchoStar and DISH, which was entered into on October 2, 2023.
  • As part of the agreement, EchoStar will pay Akhavan's full compensation until the completion or termination of the merger, after which DISH will reimburse EchoStar for a portion of the costs.
  • The arrangement has been approved by the Special Committee and Board of Directors of EchoStar.
  • Akhavan will retain his current role as Chief Executive Officer and President of EchoStar.
  • Forward-looking statements made by EchoStar and DISH regarding the proposed transaction include potential risks and uncertainties such as the impact of the announcement on their respective businesses, the timing of the transaction, and the ability to achieve the anticipated benefits.

Statistics:

  • Effective date of Akhavan's appointment as DISH CEO: November 13, 2023.
  • Date of the Amended and Restated Agreement and Plan of Merger between EchoStar and DISH: October 2, 2023.
  • Number of employees that will be affected by the operational changes resulting from the proposed transaction: Not specified in the provided text.

Sources:

  • EchoStar Corporation. (2023, November 13). Form 8-K. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
  • DISH Network Corporation. (2022). Annual Report on Form 10-K for the fiscal year ended December 31, 2022.

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