Vector replaces CEO and suspends operations
Posted: Mon, Aug 12, 2019, 4:03 PM ET (2003 GMT)
Small launch vehicle company Vector suspended operations and replaced its CEO Friday because of financial problems. In a statement late Friday, the company said that because of a "significant change in financing," the company was pausing operations. The company also said that founding CEO Jim Cantrell left the company, replaced by John Garvey. The announcements came after reports, including social media postings, that the company had closed its three offices, affecting at least 150 employees. Vector is one of dozens of companies working on small launch vehicles and had raised about $100 million to date, but had yet to attempt an orbital launch of its Vector-R rocket. The company won an Air Force contract last week for a launch of several smallsats in 2021.
Small launch vehicle company Vector suspended operations and replaced its CEO Friday because of financial problems. In a statement late Friday, the company said that because of a "significant change in financing," the company was pausing operations. The company also said that founding CEO Jim Cantrell left the company, replaced by John Garvey. The announcements came after reports, including social media postings, that the company had closed its three offices, affecting at least 150 employees. Vector is one of dozens of companies working on small launch vehicles and had raised about $100 million to date, but had yet to attempt an orbital launch of its Vector-R rocket. The company won an Air Force contract last week for a launch of several smallsats in 2021.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
US and UK militaries conduct coordinated satellite maneuvers
Posted: Sun, Sep 21 8:30 AM ET (1230 GMT) Blue Origin retires a New Shepard capsule after payload flight
Posted: Sun, Sep 21 8:25 AM ET (1225 GMT) |
|
news links
|
|
Monday, October 13
Government criticized for rushed approval of Starlink Korea agreement
JoongAng Daily — 7:04 am ET (1104 GMT) SpaceX plans Starship test flight in Texas as early as Monday
UPI — 7:02 am ET (1102 GMT) Senior barrister: Space industry a trillion-dollar market for HKSAR
China Daily — 7:00 am ET (1100 GMT) Race for Space Law: Inside the Sino-American Cosmic Rivalry
ChinaTalk — 6:57 am ET (1057 GMT) Key ExoMars Rover part ships from Aberystwyth
Eurekalert — 6:45 am ET (1045 GMT) |
