Vertical Aerospace Chairman Dómhnal Slattery Resigns; Ben Story Appointed Interim Chairman
Summary
Vertical Aerospace announced the resignation of its Chairman, Dómhnal Slattery, who is credited with overseeing recent key milestones, and the appointment of Ben Story as interim Chairman.
Key Events
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Chairman Resignation
Dómhnal Slattery resigned as Chairman and member of the Board of Directors, effective May 12, 2026. He had served as Chairman since January 2025, and previously from January 2022 to August 2023.
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Reason for Departure
Mr. Slattery decided to step down to focus on other business interests, having overseen the achievement of key company milestones, including a two-way piloted transition flight and the closing of an up to $850 million financing package.
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Interim Chairman Appointed
Ben Story, a current Board member since April 2024, has been appointed interim Chairman. Mr. Story brings extensive experience from Rolls-Royce Holdings plc and Citigroup, where he led strategy, M&A, and investment banking.
Analysis
The Chairman's departure is an important leadership change, especially for a company that recently faced a 'going concern' warning and just secured a significant financing package. However, the company states he is stepping down after overseeing key operational and financial milestones, including a successful flight and the $850 million financing. The appointment of Ben Story, an experienced executive with a background in strategy and investment banking, as interim Chairman helps to mitigate potential concerns about leadership stability.
At the time of this filing, EVTL was trading at $2.60 on NYSE in the Manufacturing sector, with a market capitalization of approximately $324.7M. The 52-week trading range was $1.90 to $7.60. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.