Maxar Technologies CFO Biggs Porter To Retire In 2023

(RTTNews) - Maxar Technologies (MAXR, MAXR.TO), Thursday announced that its Chief Financial Officer Biggs Porter plans to retire from the company sometime in 2023.

Porter will remain in a consulting role following his retirement through March of 2024 to assist with the transition of the CFO office.

Maxar said it has initiated a search process to identify the company's next CFO. Porter will continue as CFO until a successor is appointed and will assist with the process in order to ensure a seamless transition.

"Biggs has been instrumental in driving Maxar's growth and financial transformation over the last several years," said Maxar Chief Executive Officer Dan Jablonsky. "Under Biggs' leadership, Maxar has reduced leverage, generated topline growth, margin expansion and significantly increased free cash flow. Thanks to his contributions, we have strengthened Maxar's place as a global space leader and better positioned the company for long-term growth and value creation. On behalf of the Board and management team, I want to thank Biggs for his dedication to Maxar and I look forward to working together with him as we transition to a new CFO."

"It has been extremely rewarding to have been a part of such a great team and such an innovative and impactful company," said Porter. "With the progress we have made on our strategic growth plans, I am confident now is the right time to begin this transition. I look forward to seeing its continued success."