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- 3 November 2021 19:12
Kleos Space appoints industry veteran Padraig McCarthy to the Board
Locally listed Kleos Space S.A (ASX:KSS, Frankfurt:KS1) has appointed international Space finance executive Padraig McCarthy to its Board.
Mr McCarthy joins the space-powered Radio Frequency Reconnaissance data-as-a-service (DaaS) company as a Non-Executive Director and Chair of the Audit and Risk Management Committee, from 3 November 2021. He replaces Kleos’ Co-founder Miles Ashcroft, who has recently been appointed Chief Innovation Officer to lead research and product innovation, as the company facilitated the transition to an independent Board.
Mr McCarthy is currently a Partner at the private equity firm NewSpace Capital. He brings more than two decades of Space industry experience to Kleos, previously serving as CFO and member of the Executive Committee at global satellite leader SES, where he raised more than €5 billion to fund the company’s growth strategy. He played a key role in the SES IPO, its Paris Euro-next secondary listing as well as other equity and debt activities. His industry experience also includes nine years as CFO and Management Committee member of SES Astra and other business and finance leadership positions within SES, whom he served for 23 years.
Kleos’ Chairman, Mr Peter Round said, “Padraig’s wealth of financial, Space industry and governance experience further enhances Kleos’ Board expertise and will be instrumental as we continue to commercialise our geolocation intelligence data. His appointment aligns with Kleos’ best practice governance and regulatory regimes and supports our longer-term transition towards a majority independent Board.”
Mr McCarthy said, “I’m delighted to join Kleos at a pivotal point in the Company’s journey, as it transitions from its R&D beginnings into a commercial provider of radio frequency geolocation data. Kleos’ independent ISR technology has many real-world applications, improving situational awareness for both government and commercial customers. I look forward to leveraging my previous industry and professional experience to assist Kleos as it executes its growth strategy.”