Richard Branson's Virgin Galactic is losing a key board member.
that he sold 3.8 million Virgin Galactic shares to help manage his liquidity and fund "several new projects" in 2021. He proceeded to sell another 6.2 million Virgin Galactic shares in March 2021, worth over $200 million at the time. Social Capital Hedosophia Holdings still owns about 15.8 million Virgin Galactic shares.
The rocket plane carrying Virgin Galactic founder Richard Branson and other crew members takes off from Spaceport America near Truth or Consequences, New Mexico, Sunday, July 11, 2021. Virgin Group chief investment officer Evan Lovell, who has served on Virgin Galactic's board since 2017, will step into the role of interim chair until a permanent replacement is selected. Executive search firm Spencer Stuart has been tapped to lead the recruitment effort.
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