AST SpaceMobile Hires New Commercial Chief Amid Big 3 Satellite JV

A new commercial chief has joined AST SpaceMobile (ASTS), bringing experience from Google Fi and SiriusXM. Wayne Thorsen, previously executive vice president and chief operating officer at SiriusXM, will serve as AST's executive vice president and chief commercial officer.

Thorsen's background spans wireless, devices, and distribution, which should aid the company in its move towards commercialization. His 200,000-RSU award is worth about $11.4 million at the current stock price of $57.04.

The appointment comes as AST works to turn its relationships with mobile network operators into commercial satellite connectivity. Meanwhile, AT&T, T-Mobile, and Verizon have formalized a technology-neutral joint venture (JV) to expand satellite-enabled connectivity in underserved areas across the U.S.

Despite existing carrier-satellite agreements remaining intact, investors are weighing what this means for ASTS. The Big 3 JV aims to reduce dead zones and expand direct-to-device access while operating as a tech-neutral platform.