CEO Shakeup at Major eVTOL Developer Archer Aviation

In a surprise announcement, Brett Adcock, public face and co-founder of Archer Aviation, one of the world’s leading developers in electric vertical takeoff and landing (eVTOL) aircraft, is stepping down as co-CEO.

Thom Patterson

Tuesday, April 19, 2022 at 12:58 PM ET

Verified

Archer co-founder Brett Adcock, left, is stepping down as Archer Aviation co-CEO while fellow co-founder Adam Goldstein, right, continues as sole CEO. [Courtesy: Archer Aviation]

Key Takeaways:

Brett Adcock, co-founder and public face of Archer Aviation (NYSE: ACHR), has unexpectedly stepped down as co-CEO.
Archer stated the move simplifies its operating structure to accelerate flight testing and certification, appointing co-founder Adam Goldstein as the sole CEO.
This leadership change occurs at a critical juncture for Archer as it works towards FAA type certification for its eVTOL aircraft by 2024 and navigates an ongoing legal battle.

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In a surprise announcement, Brett Adcock, public face and co-founder of Archer Aviation (NYSE: ACHR)—one of the leading developers in electric vertical takeoff and landing (eVTOL) aircraft—is stepping down as co-CEO.

Archer explained the move in a statement released Monday: “The company took this step, which it believes will help simplify its operating structure, to drive its flight testing and certification program on its path to commercialization.” Archer co-founder Adam Goldstein, the statement said, has been named Archer’s sole CEO.