Silver Lake Representatives Stepping Down From Intelsat Board

Private-equity firm Silver Lake Partners, which with BC Partners owns Intelsat (see 0708140111), is ending its representation on the satellite company's board. In a news release Wednesday, Intelsat said Silver Lake Managing Partner Egon Durban and Managing Director Simon Patterson will resign from the board effective Dec. 31. Intelsat said that after that the board will have seven members -- two from BC Partners, the CEO and executive chairman, and three independent directors. Silver Lake affiliates own about 12 percent of Intelsat, it said. In a statement, Silver Lake said it "remain[s] committed to our investment in Intelsat and while we are leaving the Board, we will continue to support Intelsat’s management team as it advances its business.”