The departure of OneWeb CEO Stephen Beynon comes amid increasing reports of French dominance within the newly merged entity formed with Eutelsat.
OneWeb, founded in 2012 by US tech entrepreneur Greg Wyler to deliver global internet coverage via low Earth orbit satellites, encountered significant obstacles in 2020 when it filed for bankruptcy following the withdrawal of support from major investor SoftBank. The company’s rescue came through a $500 million investment from the UK government and an equal contribution from Indian billionaire Sunil Bharti Mittal, who has also recently become BT’s largest shareholder.
Upon the merger with Eutelsat, framed as a partnership, Beynon was appointed CEO of OneWeb and co-president of Eutelsat’s connectivity division. However, insiders indicate that UK operations increasingly appear to be absorbed by their French parent company, despite the British government retaining a 10.9% stake and a special share intended to protect UK interests. This development has raised concerns about the future autonomy of OneWeb’s UK operations, which now seem to be at a crossroads.
Beynon’s co-president, Frenchman Cyril Dujardin, is anticipated to assume full control of Eutelsat OneWeb following Beynon’s scheduled departure next month. The ongoing search for Beynon’s successor further prompts questions regarding the leadership and strategic direction of the company. Notably, neither Beynon nor Eutelsat have issued any statements concerning the resignation, leaving stakeholders and industry observers to speculate on the broader implications for OneWeb’s UK-based activities.
The leadership changes and the growing French influence within the merged entity of OneWeb and Eutelsat spotlight critical uncertainties about the future direction and governance of OneWeb’s UK operations.