Enrico Palermo Appointed Virgin Galactic’s Chief Operating Officer

MOJAVE, Calif.--(BUSINESS WIRE)--Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“VG” or “the Company”), a vertically integrated aerospace company, is pleased to announce the appointment of Enrico Palermo as Chief Operating Officer (COO), effective immediately. In this newly created role, Enrico will be responsible for helping maintain efficiency and peak performance across the enterprise as it develops as a public company, and will lead the execution of specific company strategies and initiatives.

Enrico currently serves as President of The Spaceship Company (TSC), the wholly-owned aerospace manufacturing and development subsidiary of VG. In this role, Enrico leads over 500 employees at the company’s facilities in Mojave, California. He joined Virgin Galactic in 2006 as one of its first employees. Enrico will maintain his capacity of TSC President.

Enrico brings a wealth of experience including operations leadership, engineering and technology knowledge, financial analysis and business planning proficiency.

Commenting on the new appointment, George Whitesides, Chief Executive Officer of Virgin Galactic, said:

“Enrico is perfectly suited to become our first Chief Operating Officer. His deep knowledge of the organization, built over 13 years with the company, enables him to hit the ground running on enterprise-wide goals. Over the years, Enrico has shown dedication to Virgin Galactic’s mission and has been an inseparable part of our success. On behalf of our Board, I am delighted to welcome Enrico as our new COO.”

Enrico Palermo, Chief Operating Officer of Virgin Galactic, commented:

“I am honored to accept this new role and continue to serve our amazing team. In late 2008, as the flight test program for VMS Eve was starting, I relocated with my family to Mojave from London to establish TSC, and I am truly inspired by what we have achieved so far. Taking on this new position at an exciting point in the company’s history is incredibly important to me and I look forward to making human spaceflight more accessible to all.”

About Virgin Galactic Holdings

Virgin Galactic Holdings, Inc. is a vertically-integrated aerospace company pioneering human spaceflight for private individuals and researchers. It believes the commercial exploration of space represents one of the most exciting and significant technology initiatives of our time. It is embarking on this commercial exploration journey with a mission to put humans into space and return them safely to earth on a routine, consistent and affordable basis. Using its proprietary and reusable technologies, and supported by a distinctive, Virgin-branded customer experience, it is developing a spaceflight system designed to offer customers a unique, multi-day experience culminating in a spaceflight that includes several minutes of weightlessness and views of Earth from space. It is in the final stages of development, having already completed multiple crewed flights of its vehicle into space, and anticipates initial commercial launch in 2020.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of federal securities laws. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the registration statement on Form S-4 filed in connection with the Business Combination and other documents filed by VG from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements.