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:

Archer Aviation co-founder and co-CEO, Brett Adcock, has unexpectedly stepped down from his executive role, though he will remain on the company's board of directors.
Archer stated the move is intended to simplify its operating structure to accelerate flight testing and the FAA certification program, appointing co-founder Adam Goldstein as the sole CEO.
Adcock's departure comes at a critical time for Archer as it works towards FAA certification for its eVTOL aircraft and is involved in a federal court battle with rival Wisk Aero.

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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.