OneWeb CEO Steps Down Amid Shift to Eutelsat Control

Stephen Beynon, the British CEO of OneWeb, is set to resign from his position less than a year after his appointment, following the company's integration into France's Eutelsat group. Sources indicate that Beynon's departure is linked to a growing trend within the combined entity, where decision-making is increasingly centralized in France, diminishing the influence of the UK. OneWeb, established in 2012 by American entrepreneur Greg Wyler, aims to provide global internet coverage through a network of satellites in low Earth orbit. The company emerged as a competitor to Elon Musk's Starlink, positioning itself as a key player in the satellite internet market. However, it faced significant challenges, including a bankruptcy filing in the United States in 2020, after major investor SoftBank withdrew its financial backing. The shift in leadership comes at a critical juncture for OneWeb, as it navigates the complexities of operating under Eutelsat's umbrella. The transition reflects broader trends in the satellite communications industry, where consolidation and strategic realignment are becoming increasingly common. Beynon's exit raises questions about the future direction of OneWeb and its ability to maintain its competitive edge in a rapidly evolving market dominated by major players like Starlink. As the company adapts to its new corporate structure, stakeholders will be watching closely to see how these changes impact its operations and strategic goals.