[ad_1]
Virgin Galactic leaders in entrance of the New York Inventory Alternate, from left: CEO George Whitesides, founder Richard Branson and Chairman Chamath Palihapitiya.
Virgin Galactic
In a press release, Palihapitiya mentioned he’s leaving “to deal with different present and upcoming public board tasks” however is “proud to go away the staff in such succesful fingers” and appears ahead to “someday flying to house with them.”
Virgin Galactic’s inventory slipped greater than 5% Friday from its earlier shut of $9.01 a share.
“We have at all times recognized the time would come when he would shift his focus to new initiatives and pursuits,” Virgin Galactic CEO Michael Colglazier mentioned in a press release. “I am grateful for every little thing Chamath has performed for our firm and need him all the very best.”
Board director Evan Lovell will function interim chairman, with a brand new chair anticipated to be chosen at a later date, the corporate mentioned. In a submitting, Virgin Galactic mentioned Palihapitiya knowledgeable the board of his determination to resign on Thursday.
Virgin Galactic has steadily made adjustments to its construction and model underneath Colglazier, who was appointed as chief govt in July 2020. Earlier this week, the corporate revealed a rebranding, changing the iris of Branson in its emblem with a purple define of its spacecraft.
[ad_2]
Source link