The finalists for WashingtonExec’s Chief Officer Awards were announced March 28, and we’ll be highlighting some of them until the event takes place live, in-person May 10.
Next is Matt Desch, CEO of Iridium Communications, and finalist in the Private & Public Company CEO Category (Annual Revenue Over $500M). Here, he shares key achievements, focus areas going forward, career advice and more.
What key achievements did you have in 2023?
Iridium once again had strong financial growth, with revenues growing 10%. The company announced in 2023 that it expects to generate at least $3 billion dollars in cash flow over the coming 7 years from its satellite operations. It announced an innovative plan to provide satellite services directly to mobile devices, as well as integrate terrestrial IoT standards into its growing portfolio of solutions. Iridium added more than 50 new partners in 2023, as well over 500 licensed companies are now creating and delivering its global satellite solutions to the world.
What are your primary focus areas going forward, and why are those so important to the mission?
Iridium is a unique satellite company as it focuses on extreme mobility for consumers and enterprises from its low earth orbiting network. We provide a broad range of services others don’t or can’t do as well as we do ⏤ like push-to-talk, consumer personal communications and tracking devices, and most recently, resilient time and location services. With our recent announcement of Project Stardust, we expect to expand into supporting terrestrial mobile and IoT devices directly from space, greatly expanding our market opportunities.
What is your best career advice for those who want to follow in your footsteps?
Success in the satellite and space industry requires patience and persistence. Hype and an innovative new idea aren’t enough ⏤ you need to build a solid plan, communicate it exceptionally well, and have the credibility and fortitude to find patient capital to realize your vision. Treat everyone around you with respect ⏤ it’s a long journey and you’ll need lots of support. Try to find roles that help you really understand the strategic foundation of your industry and its technologies that lets you build a strong framework for developing your vision.
Fun Fact: What is something about you that most people do not know about?
I’ve been flying airplanes and in love with aviation since I was 15 years old, and recently started flying a helicopter as well. I also went to college on a caddie scholarship ⏤ just like Danny Noonan in “Caddyshack.” It’s why I am passionate about helping smart kids who work hard to better succeed ⏤ I founded and chair a leadership institute at my alma mater (Ohio State) to help ambitious students face challenges and learn to tackle adversity early in their careers (which I’m afraid most young people aren’t getting as much of as people my age did).