Air taxi maker Vertical taps former Airbus executive Fabrice Bregier as chair (updated)
UPDATE 1-Air taxi maker Vertical taps former Airbus executive Fabrice Bregier as chair Updates share movement
Sept 21 (Reuters) - Air taxi developer Vertical Aerospace said on Monday it had appointed former Airbus AIR.PA Commercial Aircraft division chief executive Fabrice Bregier as chair of its board of directors.
Here are some more details:
The announcement comes as electric vertical take-off and landing (eVTOL) aircraft firms race to secure regulatory approvals ahead of commercial launches.
Alongside its all-electric, four-passenger piloted aircraft Valo, Vertical is developing a hybrid-electric variant, which would offer more range and mission flexibility.
EVTOL firms are also focusing more on the military market amid rising defense spending, with commercial development taking longer than expected.
Bregier most recently served as president of Palantir Technologies PLTR.O France from 2018 to 2024.
In addition to serving as CEO of Airbus' unit from 2012 to 2018, Bregier was chief operating officer of the group, where he led the development of the A350 programme and the company's operational turnaround.
Vertical said Ben Story, who has been the company's interim chair since May, would remain a member of the board.
Shares of the company were marginally down in afternoon trading.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Vijay Kishore)
((Anshuman.Tripathy@thomsonreuters.com;))
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Air taxi maker Vertical taps former Airbus executive Fabrice Bregier as chair (updated)