Virgin Galactic Stock News

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Chamath Palihapitiya, until now chairman of the board, hit the "eject" button.

Chamath Palihapitiya, until now chairman of the board, hit the "eject" button.

Chamath Palihapitiya steps down as Chairman at space tourism operator Virgin Galactic (SPCE). The company says the departure is amicable. With SPCE under $9, we''re not sure shareholders would agree.

CNBC's Robert Frank joins 'The Exchange' to report on billionaire investor Chamath Palihapitiya's decision to step down as chairman of Virgin Galactic, which is down nearly 80 percent since he sold th

Virgin Galactic leaders in front of the New York Stock Exchange, from left: CEO George Whitesides, founder Richard Branson and Chairman Chamath Palihapitiya. Virgin Galactic Virgin Galactic announced Friday that Chairman Chamath Palihapitiya is stepping down from the space tourism company’s board of directors, effective immediately. Palihapitiya’s SPAC, or special purpose acquisition company, took Virgin […] Chamath Palihapitiya, who took Virgin Galactic public, steps down from space company’s board

Shares of the space exploration company founded by billionaire Richard Branson have tumbled about 80% from an all-time high last summer.

Canadian venture capitalist Chamath Palihapitiya has announced that he is steeping down as chairman of space tourism company Virgin Galactic Holdings (SPCE). Palihapitiya is also resigning from Virgin Galactic’s board of directors. The company, founded by Sir Richard Branson, has appointed board director Evan Lovell as interim chairman until a new permanent chair can be put in place. Palihapitiya joined Virgin Galactic''s board as its first chairman when the company went public in 2019 through a special purpose acquisition company (SPAC) deal. Palihapitiya is the founder and chief executive of Social Capital, a firm that invests in companies of all stages and has backed companies such as Virgin Galactic and Slack, helping many of them go public. Virgin Galactic announced earlier this week that it has begun taking reservations that include a $150,000 deposit for its flights that aim to take tourists into space. Virgin Galactic stock has declined 64% in the past six months to now trade at $9.

A leading space tourism company announced a big change to its Board of Directors Friday. What Happened: Chamath Palihapitiya is stepping down as chairman and a member of the Board of Directors for Vir

The space-tourism company said director Evan Lowell will take over as chairman of the board on an interim basis.

Billionaire investor Chamath Palihapitiya, who was one of the executives to help take Virgin Galactic public, has stepped down as chariman of the company.

Chamath Palihapitiya, a prolific sponsor of blank-check funds, is stepping down as chairman of Virgin Galactic.

Billionaire investor Chamath Palihapitiya. Brian Ach/Getty Images for TechCrunch Chamath Palihapitiya is stepping down as Virgin Galactic''s chairman effective immediately, the…

CNBC's Morgan Brennan reports on recent news from Virgin Galactic.