Executive Chairman Oakleigh Thorne is moving away from day-to-day operations at Gogo. In an SEC filing this week the company disclosed the intention for Thorne’s transition to begin at a yet-to-be-disclosed point in 2025, completing at the end of the year.
Under the revised employment agreement Thorne’s 2025 role will be split into two “terms,” with the transition on “a date in 2025 to be mutually agreed.” The first term remains a full time position. Employment during the second term will, per the agreement, be a part-time role, at a reduced salary.
And, if I’m reading the filing correctly, at the end of 2025 Thorne will retain his position on the board, but no longer hold an active day-to-day role in the company’s operations. The agreement sees all time-based stock grants vest at the end of 2025, while performance-based grants will keep their original timelines. It also provides a timeline for exercise of vested options in line with a “normal post-termination exercise period” and typical non-complete clauses.
Thorne assumed the role of President and CEO of Gogo just over seven years ago. He replaced Michael Small amid a stagnation of the company’s growth and its share price. He oversaw the spin-off of the commercial aviation group to Intelsat in 2020. That was followed by the acquisition of Satcom Direct in 2024 to bolster the business aviation and government segments.
As part of the Satcom Direct deal closing Thorne transitioned the role of CEO to Chris Moore, previously President of SD.
Thorne has been a member of the Gogo Board since 2003, representing Thorndale Farm, LLC. A 2022 Form 13D/A filing showed Thorndale Farm as a 24.9% owner of Gogo.
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