Richard Branson Celebrates Virgin Galactic becoming a publicly listed company. Credit: Virgin Galactic
Palermo 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.
Palermo is currently, and will remain, the President of The Spaceship Company, which is the aerospace manufacturing and development subsidiary of Virgin Galactic. His appointment as COO of Virgin Galactic indicates the two companies are becoming even closer. After the announcement today, Virgin Galactic stock jumped 13%.
Palermo joined Virgin Galactic in 2006 as one of its first employees.
George Whitesides, CEO of Virgin Galactic, commented, “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.”