UrtheCast Replaces CEO as It Struggles With Cash Flow
Its cash reserves dwindling, Vancouver-based earth observation satellite operator UrtheCast said Friday it replaced CEO and co-founder Wade Larson with board member Greg Nordal as interim CEO. It said it started a search for a permanent CEO, and Larson will…
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be a special adviser to the board focused on strategic business development. UrtheCast also said it hired FTI Consulting Canada to advise it on cost reduction and financing options, and it's shifting its business focus to construction and development of the UrtheCast constellation. UrtheCast also said it remained in negotiations with an unnamed investor on closing on financing for the constellation.