Virgin Galactic space chief George Whitesides, left, and CEO Michael Colglazier.
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Virgin Galactic announced Wednesday that George Whitesides would step aside as CEO, and the space tourism company will appoint former Disney executive Michael Colglazier.
Whitesides will remain with the company in a new role, serving as its chief of space operations.
“I want to thank George for his outstanding leadership of Virgin Galactic in the past decade. He has shown dedication and determination as his first CEO to build the Company from initial development to space flight, the first from US soil since the shuttle’s retirement space, “Virgin Galactic founder Sir Richard Branson said in a statement.
Colglazier was recently the president and managing director of Disney Parks International, the culmination of more than 30 years in the media and entertainment giant.
“I believe Michael’s long and distinguished career in one of the world’s leading customer experience brands provides a natural fit with Virgin’s culture and Galactic’s requirements as he prepares for commercial service,” said Branson.
The CEO change will take effect next Monday. Whitesides will also resign from the Virgin Galactic board of directors, with Colglazier taking his place.
“Michael’s skill set is highly complementary to that of the incredible team we have at Virgin Galactic. He has considerable business and managerial experience and a proven record of successfully marketing new and innovative products and services worldwide,” said the President. from Virgin Galactic, Chamath. Palihapitiya said in a statement.
Virgin Galactic shares rose more than 5% in post-close trading at its $ 18.55 close.
Virgin Galactic CEO George Whitesides
CNBC | Michael Sheetz
Whitesides has served as the company’s CEO for 10 years, growing the company from a team of 30 to its current workforce of more than 900. He has led the company in times of difficulty and triumph, including a fatal accident during testing in 2014 and its first two successful space flights last year. In recent months, despite the coronavirus pandemic, Whitesides has transitioned the company from its test facility in California’s Mojave Desert to its operational base at Spaceport America in New Mexico.
Virgin Galactic is constantly approaching the launch of its commercial service, and the company seeks to eliminate the remaining milestones with a few more tests of space flight.
The company said Whitesides’ new role will make it focus on developing Virgin Galactic’s future business, including its longer-term opportunities, such as hypersonic travel.
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