By Sabela Ojea
Shares of Vertical Aerospace on Wednesday jumped after the company said Domhnal Slattery, its former chairman of the board, is taking back the job he held from January 2022 to Aug. 2023.
The stock was up 26% to $10.19 in midday trading. Shares have surged 97% over the past 12 months, though are down 18% since the beginning of the year.
The aerospace and technology company said Slattery succeeds Stephen Welch, the outgoing chairman, who will continue to serve on the Vertical board as a non-executive director.
The appointment of Slattery follows significant progress for the business on its path to commercialize zero emissions air travel, the company said.
During Slattery's past tenure at Vertical Aerospace, the aviation veteran led the business in building its order book and listing on the New York Stock Exchange.
Slattery also is the CEO and chairman of venture capital firm Clahane Capital, and the founder of aircraft leasing companies Avolon and SMBC Aviation.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 15, 2025 12:40 ET (17:40 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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