Sea Launch Announces Departure of President

Bern, Switzerland, February 24, 2014–Launch service provider Sea Launch AG today announced the resignation of its President, Kjell Karlsen effective February 28, 2014, to pursue other opportunities outside space industry.  After his departure, the company’s senior executive team will carry out Karlsen’s former duties and responsibilities, according to Sea Launch.

Karlsen has been with Sea Launch since 1999, serving as the President since 2008 and member of its Board of Directors since 2010. Karlsen said on his departure, “I am appreciative of the opportunities that I have been given while at Sea Launch and will forever be grateful for my time here.  Through the growing participation of RSC Energia, I believe the evolution of the company going forward will allow it to continue to innovate and create value for world’s satellite operator community.  I am very proud to have been able to represent Sea Launch for the past 14 years and I am looking forward to working in a new industry with a new set of challenges and opportunities."

”“We appreciate Mr. Karlsen’s contribution, dedication and leadership to Sea Launch during his employment, We highly value his personal and business skills feel sorry about his departure and wish him all the best in his career, ” siad  Sergey Gugkaev, Chief Executive Officer of Sea Launch. "We have a strong leadership team in place with dedicated executives who are ready to assume his responsibilities and duties.  We wish him all the best going forward while the team now focuses its efforts on the upcoming launch of the Eutelsat E3B spacecraft in April,” he added.