RTTNews | Jan 28, 2022 11:25AM EST

11:25 Friday, January 28, 2022 (RTTNews.com) - UK-based electric aircraft company, Vertical Aerospace Ltd. (EVTL), is trading 10% lower on the market after it announced the appointment of Dmhnal Slattery as the new chairman of the company.

Slattery, who is the founding CEO of Avolon Holdings, is going to replace founder Stephen Fitzpatrick who was the chairman when the company went public late in 2021. Slattery said, "I am excited to have the opportunity to deliver that vision and bring to market the VX4, an aircraft that will materially change the face of the transportation sector globally as we transition towards a net zero economy."

The stock is trading at $7.32, currently down $0.70 or 8.73% since the previous close at $8.02. The stock opened at $7.75 in the morning and in the 52-week period, the stock has ranged between $6.73 and $18.44.

Read the original article on RTTNews ( https://www.rttnews.com/3258410/vertical-aerospace-down-9-on-new-chairman-news.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com All Rights Reserved