Colglazier Brings Proven Record for Delivering
World-Class Consumer Experiences at The Walt Disney Company
Company’s First CEO George Whitesides to Drive
Future Business Areas as Chief Space Officer, Including High Speed
Mobility and Orbital Spaceflight Programs
Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic”),
a vertically integrated aerospace and space travel company, today
announced the appointments of Michael Colglazier as Virgin
Galactic’s new Chief Executive Officer and George Whitesides as
Chief Space Officer, effective July 20, 2020.
Michael assumes the CEO role at an exciting time for Virgin
Galactic as the Company progresses through its test flight program
and prepares for commercial service. He will also join the
Company’s Board of Directors effective July 20, 2020. Michael joins
Virgin Galactic following a long and successful career at The Walt
Disney Company (NYSE: DIS), bringing over three decades of
experience in developing and growing consumer-oriented
multi-billion dollar businesses strategically, commercially, and
operationally. Most recently Michael was President and Managing
Director, Disney Parks International, where he was responsible for
operations, strategy, and commercial and experiential development
of Disney’s international parks and resorts.
George will assume the role of Chief Space Officer, focused on
developing the Company’s future business opportunities, including
point-to-point hypersonic travel and orbital space travel. George
will also chair the Company’s Space Advisory Board, and in
conjunction with his new role will step down from the Company’s
Board of Directors. George joined Virgin Galactic in 2010 as its
first CEO, after serving as Chief of Staff at NASA. During the past
decade, he has built the Company from 30 people to a workforce of
over 900 today, and he has successfully guided Virgin Galactic
through its human space flight research and development program as
well as the progress to date in its flight test program,
culminating in two successful space flights. These historic flights
saw the first humans launched into space from US soil since the
retirement of the Space Shuttle, as well as the first woman to fly
on a commercial space vehicle. During the last year, George led the
transition of operations from Mojave, California to Spaceport
America, New Mexico, and oversaw the Company’s successful public
listing—creating the world’s first publicly traded human
spaceflight venture.
Michael Colglazier said, “I am thrilled to join the talented
team at Virgin Galactic at this inflection point in the Company’s
journey. Like so many others, including hundreds of signed-up
customers, I have been inspired by this purpose-driven, world-class
brand and the incredible opportunity it offers to open space to
change the world for good. George’s vision and outstanding
leadership have enabled Virgin Galactic to reach this point, and I
am excited to work with him in his role as Chief Space Officer
where he will spearhead our future development efforts. On a
personal note, I’d like to thank my friends and colleagues at
Disney, especially Bob Chapek for his mentorship and guidance over
the years, and Josh D’Amaro, who is bringing superb leadership to
Disney’s Parks, Experiences, and Products. I am grateful to the
Virgin Galactic Board, our chair Chamath Palihapitiya, and our
founder Richard Branson for their support and trust as we make
history together in this amazing company.”
George Whitesides added, ‘’Serving as the first CEO of Virgin
Galactic and The Spaceship Company for the past ten years has been
the honor and adventure of a lifetime. The next decade for Virgin
Galactic will be commercially-focused, and it is the perfect moment
for us to bring a visionary commercial leader like Michael to take
the Company forward. Michael brings enormous experience in building
customer experiences for Disney all around the world, and scaling
businesses into multi-billion dollar organizations. I look forward
to supporting Michael as the Company realizes Richard Branson’s
vision to share the experience of spaceflight with people around
the world, now turning my focus to building the next generation of
aerospace vehicles and experiences.”
Sir Richard Branson said, “I want to thank George for his
outstanding leadership of Virgin Galactic over the last decade. He
has shown dedication and determination as its first CEO to build
the Company from early stage development through to space flight,
the first from American soil since the retirement of the Space
Shuttle. In the past year, George has taken the Company public and
moved it to Spaceport America. He transitions into his new role as
Chief Space Officer having created substantial value as CEO and
with Galactic poised for an exciting next chapter.”
“At the same time, we are delighted to welcome Michael as the
new Chief Executive to lead Galactic into commercial operations. I
believe Michael’s long and distinguished career at one of the
world’s leading customer experience brands provides a natural fit
with Virgin’s culture as well as Galactic’s requirements as it
prepares for commercial service.”
Chamath Palihapitiya, Chairman of Virgin Galactic, said,
“Michael’s skillset is highly complementary to that of the
incredible team that we have at Virgin Galactic. He has
considerable commercial and managerial experience and a proven
track record of successfully commercializing new and innovative
products and services all over the world. He will create an amazing
customer experience for our Future Astronauts as we ramp up for
spaceflight operations.”
Conference Call Information
Virgin Galactic will host a conference call to discuss this
announcement at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time)
today. To access the conference call, parties should dial (833)
350-1375 and enter the conference ID number 3890700. The live audio
webcast along with supplemental information will be accessible on
the Company’s Investor Relations website at
investors.virgingalactic.com. A recording of the webcast will also
be available following the conference call.
Separately, as previously announced, Virgin Galactic will host a
conference call to discuss its second quarter financial results on
Monday, August 3, 2020 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern
Time).
For Media Assets:
https://www.image.net/virgingalactic
About Virgin Galactic
Virgin Galactic is a vertically-integrated aerospace and space
travel company, pioneering human spaceflight for private
individuals and researchers, as well as a manufacturer of advanced
air and space vehicles. Using its proprietary and reusable
technologies and supported by a distinctive, Virgin-branded
customer experience, it is developing a spaceflight system designed
to offer customers a unique, multi-day, transformative experience.
This culminates in a spaceflight that includes views of Earth from
space and several minutes of weightlessness that will launch from
Spaceport America, New Mexico. Virgin Galactic and The Spaceship
Company believe that one of the most exciting and significant
opportunities of our time lies in the commercial exploration of
space and the development of technology that will change the way we
travel across the globe in the future. Together we are opening
access to space to change the world for good.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of federal securities laws with respect to
Virgin Galactic Holdings, Inc. (the “Company”), including
statements regarding the Company’s future business opportunities.
These forward-looking statements generally are identified by words
such as “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “strategy,” “future,” “opportunity,” “plan,” “may,”
“should,” “will,” “would,” and similar expressions. Forward looking
statements are predictions, projections and other statements about
future events that are based on current expectations and
assumptions and, as a result, are subject to risks and
uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to the factors, risks and
uncertainties regarding the Company’s business described in the
documents filed by the Company from time to time with the
Securities and Exchange Commission (the “SEC”). These filings
identify and address other important risks and uncertainties that
could cause the Company’s actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and, except as required by law, the Company assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200715005884/en/
For media inquiries please contact:
VirginGalacticPress@virgingalactic.com
US, Canada, South America, Australia – Antonia Gray, FTI
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For Investor Relations inquiries please contact:
VirginGalactic-SVC@SARDVERB.com
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