Richard Branson steps down from role as chairman of Virgin Hyperloop

Richard Branson steps down from role as chairman of Virgin Hyperloop
Richard Branson has resigned as chairman of Virgin Hyperloop One. (AFP)
Updated 22 October 2018

Richard Branson steps down from role as chairman of Virgin Hyperloop

Richard Branson steps down from role as chairman of Virgin Hyperloop
  • Branson says the company, that plans to build a supersonic transport system in the United Arab Emirates and other countries, needs a more actively involved leader
  • Virgin Hyperloop One’s biggest shareholder, Dubai’s DP World, said the company was seeking a new chairman

DUBAI: Richard Branson is quitting as chairman of Virgin Hyperloop One after saying the company, that plans to build a supersonic transport system in the UAE and other countries, needs a more actively involved leader, a statement confirmed on Monday.
“At this stage in the company’s evolution, I feel it needs a more hands-on Chair, who can focus on the business and these opportunities,” the statement quoted Branson as saying.
“It will be difficult for me to fulfil that commitment as I already devote significant time to my philanthropic ventures and the many businesses within the Virgin Group.”
Virgin Hyperloop One’s biggest shareholder, Dubai’s DP World, said the company was seeking a new chairman.