Summary
- Eric Schmidt, the former CEO of Google, has taken over as the CEO of rocket building startup, Relativity Space, replacing founding CEO Tim Ellis.
- Ellis announced the transition on his X profile, saying he was ‘proud to continue to support the team as Co-founder and Board member’.
- Schmidt reportedly made a significant investment in the company and now has a controlling stake in Relativity Space.
- In a statement, Ellis said of Schmidt taking the CEO role, ‘I know there’s no one more tenacious or passionate to propel this dream forward.’
- Relativity Space launched the world’s first 3D-printed rocket, the Terran 1, in 2023, but it failed shortly after launch.
- The company is now developing the Terran R, a reusable medium-to-heavy-lift launch vehicle, with a planned launch towards the end of 2026.
By Jay Peters
Original Article