EchoStar President and CEO Hamid Akhavan resigned his leadership roles effective immediately. A July 9, 2026, SEC filing attributed the departure to a change in strategic direction. Akhavan also vacated his position at Hughes Satellite Corp.
Akhavan will provide consulting services through the end of 2026 to assist the transition. He originally assumed the CEO role in March 2022. Akhavan joined the board following the merger with Dish Network in December 2023.
Citibank initiated coverage on EchoStar with a buy rating. The bank set a price target of $126 per share.