Global Eagle Entertainment Loses CEO, CFO

Los Angeles-based Global Eagle Entertainment, which provides in-flight, satellite-based Internet services for airlines, has named a new CEO, after the loss of both its CEO and CFO on Monday. According to the company, its board has appointed Jeff Leddy as its new CEO and interim CFO. Leddy replaces Dave Davis, who has resigned both as a board director and CEO of the company on Monday, according to the company. In a related move, Global Eagle said that its EVP and CFO, Tom Severson, has also resigned, and that it expects to miss the filing deadline for its 10-K annual report for 2016; the company cited "increase size and complexity" of a recent acquisition, the departure of its CFO, and "material weaknesses in internal control" over its financial reporting. Leddy has been on its board since January of 2013, and was founder and CEO of Verizon Telematics, and also previously served at SkyTerra Communications, and as a director at Hughes Network Systems.