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Virgin Galactic - Virgin Galactic develops aerospace leadership structure in preparation for commercial spaceline operations

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Commercial service remains on track for Q2 2023 launch


Virgin Galactic Holdings, Inc. (NYSE: SPCE) (the “Company” or “Virgin Galactic”), an aerospace and space travel company, today announced its updated leadership structure to support commercial spaceline operations, which are heading into the second quarter of 2023 as previously announced by the Company. The organizational changes will support the company’s key near-term objectives of offering increased flight frequency and executing rapid fleet development plans.

As part of this leadership refresh, Swami Iyer, President of Aerospace Systems, will step down effective January 12, 2023. He will continue to serve as an advisor to Michael Colglazier, CEO of Aerospace Systems, until March 3, 2023 to ensure a smooth transition soft.

“With the completion of our mothership enhancement program in hand, our streamlined leadership structure will help drive the business forward as we prepare for commercial space operations,” said Colglazier. “Swami was instrumental in establishing our future production strategy and leading the work to prepare our initial ships for commercial flight, and we are extremely grateful for his contribution. Our experienced leadership team brings deep expertise to the company’s next exciting phase – taking our customers safely and regularly into space and expanding our future fleet.”

The leadership team of industry veterans leading Virgin Galactic’s space operations includes:

  • Mike Moses, President, Space Missions and Security

    Moses has led flight and mission operations at Virgin Galactic since 2011, following his seventeen-year career at NASA, where he led space shuttle launch operations until the shuttle retired from service in 2011.
  • Mike Moore, Executive Vice President, Spaceline Technical Operations

    Moore joined Virgin Galactic in 2022 after a long and successful career as Senior Vice President of Technical Operations for Delta Airlines. Your team at Virgin Galactic works to ensure vehicles are built, maintained and supported to the highest standards of quality, reliability and efficiency.
  • Steve Justice, Senior Vice President of Space Lines Engineering and Programs

    Justice – a 39-year veteran of Lockheed Martin and a “legend” in its Skunk Works division – leads the design, engineering and program management of Virgin Galactic’s spaceflight system and the future development of the fleet.

Planned upgrades to the VMS Eve are complete, and the mothership is expected to enter ground tests next week before commencing flight tests to verify improvements to the craft. Commercial service remains on track to start in Q2 2023.

About Virgin Galactic Holdings

Virgin Galactic is an aerospace and space travel company, pioneering human spaceflight for individuals and researchers with its advanced air and space vehicles. It is developing a spaceflight system designed to connect the world to the love, wonder and awe created by space travel and to offer customers a life-changing experience. You can find more information at https://www.virgingalactic.com/

Forecast Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend that such forward-looking statements be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that are not statements of historical fact, including, without limitation, statements regarding changes in our leadership team, our spaceflight systems, our market growth, fleet development plans and our goals for future operations are forward-looking statements. The words “believe”, “may”, “will”; “estimate”, “potential”, “continue”, “anticipate”, “intend”, “expect”, “strategy”, “future”, “could”, “would”, “project”, “plan”, “target “, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements use these words or phrases. These statements are not promises or guarantees, but involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. , including without limitation the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as these factors may be updated from time to time in our other filings with the US Securities and Exchange Commission Securities (the “SEC”), accessible on the SECswebsite at www.sec.gov and the Investor Relations section of our website at www.virgingalactic.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statements represent management’s estimates as of the date of this press release. Although we may choose to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.


Source: Virgin Galactic Holdings, Inc.

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