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
|
|
Thales and Airbus to build next-generation radar imaging satellites
Posted: Sat, Jun 13 10:02 AM ET (1402 GMT) |
|
news links
|
|
Thursday, June 18
ESA Studies Doubling Ariane 6 Flight Cadence
Aviation Week — 5:21 am ET (0921 GMT) Northrop Grumman to Advance Military’s Protected Satellite Communications
Northrop Grumman — 5:20 am ET (0920 GMT) Two Offices Face a Shaky Future in U.S. Space Force Acquisition Overhaul
Aviation Week — 5:20 am ET (0920 GMT) Eutelsat Secures First Order Under French Defense Agreement
ViaSatellite — 5:20 am ET (0920 GMT) Blue Origin Says It Will Launch a New Glenn Rocket This Year
Bloomberg News — 5:16 am ET (0916 GMT) |
