Space tourism company Virgin Galactic hires a former Disney executive as CEO


Virgin Galactic (SPCE) He named Michael Colglazier, the head of Disney’s international parks, its new CEO on Wednesday. Colglazier will replace George Whitesides, a NASA and FAA veteran who has led the company since 2010, when Virgin Galactic grew from a couple of dozen employees to more than 900, working to build and test its rocket-powered suborbital. space plane

Whitesides will assume the role of “Chief Space Officer” at Galactic, the company said, where it will focus on overseeing the development of technologies later in the Galactic pipeline, including a supersonic passenger jet.

The leadership change is intended to allow Virgin Galactic to “do more” now that its tourism spacecraft is almost ready to fly its first paying customers, incoming CEO Colglazier told Wall Street analysts during a conference call Wednesday. .

“I think it is fair to say that we are now a short distance” from starting commercial operations, Colglazier said. “This company continues on its way.”

Virgin Galactic will help train astronauts for NASA
Virgin Galactic, founded two decades ago by British billionaire Richard Branson, has spent years developing and testing its space tourism vehicle, called SpaceShipTwo. The company recovered from a lethal test crash in 2014 and has since flown two test flights into the upper atmosphere, mimicking the journey tourists will take.
Colglazier comes to Galactic after spending nearly 30 years at Disney. He recently oversaw the operations of the media giant’s theme parks in Paris, Hong Kong, Shanghai and Tokyo. He is stepping out of the role when Disney’s park business took a multi-million dollar hit after the Covid-19 pandemic forced theme parks to close for months.

In a call announcing the executive change, analysts asked Colglazier about his unexpected transition from the Disney park executive to leading a new, high-risk business that is still in its commercial infancy.

Virgin Galactic has its sights set on supersonic flights, and there is a difficult road ahead

“I have had a long career working in an industry that is all about security and delivering customer experiences in a safe way,” said Colglazier. “Obviously, the aerospace industry is a different technology. So I will dive deep … That is part of my learning process.”

Whitesides added that Colglazier “brings a wealth of experience in creating customer experiences.”

Virgin Galactic recently announced two new partnerships with NASA. One, announced in June, will see the company help NASA train tourists and scientists who choose to pay for the much more dangerous and expensive trip to fly into Earth orbit. (Virgin Galactic’s SpaceShipTwo is only capable of suborbital flights, which means it will take one-hour flights in the upper atmosphere, but it’s not fast enough to go into orbit.)

SpaceX and Boeing have developed spacecraft capable of transporting paying clients and NASA astronauts on day-long orbit trips or month-long stays aboard the International Space Station.

Virgin Galactic also has a cost-sharing agreement with NASA to develop a supersonic passenger jet that can transport people between cities at speeds not seen since the Concorde plane from Europe retired in 2003, although the Virgin Galactic supersonic jet is likely to be very far from reality.

But, Whitesides said: “I think there are opportunities to start, generating income through that. [program] – perhaps before a commercial operation, whether they are government-related activities or not. ”

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