DigitalGlobe names CEO, chairman

LONGMONT – Satellite picture and information company DigitalGlobe Inc. has named a Fortune 500 executive as its new president and a retired U.S. military general to be its chairman of the board.

Jeffrey R. Tarr will serve as president and chief executive of Longmont-based DigitalGlobe (NYSE: DGI) when he takes the helm on April 5, the company said in a press statement. Tarr most recently was president and chief operating officer at IHS Inc., where he saw revenue grow $1 billion during his tenure.

General Howell M. Estes III is the new chairman of the company’s board of directors. Estes has served as an independent member of the board since 2007 and consults with aerospace companies around the world.

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“Jeff is the most qualified person to lead DigitalGlobe as it continues to expand its ability to deliver timely, accurate and essential information to government and commercial customers around the world,” Estes said in the statement.

Estes was commander in chief of the North American Aerospace Defense Command and the U.S. Space Command and was commander of the U.S. Air Force Space Command before he retired in 1998.

Tarr replaces Jill Smith, who said in September that she would leave the company. Smith was the company’s CEO and chairman.

Tarr will make a base salary of $550,000 and have the chance to earn an annual bonus equal to 85 percent of his salary if he meets certain performance targets, according to a U.S. Securities and Exchange Commission filing.

He also may receive annual stock bonuses of up to $1.95 million for the first three years and equity awards with values of $2.5 million, according to the filing.

Smith made an annual salary of $480,000 and total annual compensation of about $2.7 million, including stock bonuses, according to Forbes.com.

The company provides earth imagery products and services for defense and intelligence departments as well as companies around the world.