RigNet Announces T. M. Matthews to Stand Down as Chairman and Not to Stand for Re-Election to Board of Directors

RigNet, Inc. RNET announced today that Thomas M. Matthews will stand down as Chairman at the May Annual Meeting of Stockholders and will not be standing for re-election to the RigNet Board of Directors. Mr. Matthews has served as Chairman of the Board and a Director for the last four years, and will continue to serve until his successor is duly elected by the stockholders. "We would like to extend our sincere and heartfelt appreciation to Tom for his service and his many invaluable contributions to the Company as Chairman. Tom helped guide the Company and its private investors through the many issues that ultimately led to its successful IPO in December 2010. He feels that with this phase now complete and a new board in place it is the right time for him to step aside so that a new chairman can come in to lead the board as the Company pursues the next phases of growth. We wish him great success in his future endeavors and acknowledge that he will be sorely missed by the rest of the board and the management team," said Mark B. Slaughter, CEO and President of RigNet.