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, has stepped down as co-CEO, with co-founder Adam Goldstein taking over as sole CEO.
Archer stated the change aims to simplify its operating structure to accelerate flight testing and certification of its electric vertical takeoff and landing (eVTOL) aircraft.
The unexpected announcement comes at a critical juncture for Archer as it pursues FAA type certification for its air taxi and navigates a federal court battle with rival Wisk Aero.
Adcock will remain on Archer's board, and the company continues to hold significant cash reserves and a $1 billion purchase agreement with United Airlines.

See a mistake? Contact us.

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.