LightSquared chief exec resigns
LightSquared, the telecom startup linked with Inmarsat, said that Sanjiv Ahuja resigned as chief executive and that backer Philip Falcone was named to the board. Ahuja will continue as chairman. The company declined to comment on why he was resigning as CEO. The move comes after LightSquared was denied US clearance to build a wireless network, prompting it to default on licencing payments owed to Inmarsat, denting the UK-listed firm’s shares.