MacDonald, Dettwiler and Associates Ltd. (MDA.TO -2.13%) has named a successor to Daniel Friedmann, who has been chief executive of the Canadian space technology company for two decades.
Friedmann will be replaced as CEO by Howard Lance, effective May 16.
Lance has been an adviser to BlackStone Group -- one of the biggest private equity investment firms in the United States.
"To fully implement our expansion plans, the company needs a U.S.-based CEO," Friedmann said in a statement.MDA -- known for building the International Space Station's robotic system and various satellite information systems -- said Lance's arrival will enable the Vancouver-based company to bid for a broader range of U.S. government and commercial contracts.
"Mr. Lance's proven expertise in leading the expansion strategy of similar companies will be a tremendous asset to MDA."
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