Eric Schmidt Takes Helm at Relativity Space as New CEO
Former Google CEO Eric Schmidt has been appointed as the new Chief Executive Officer (CEO) of rocket manufacturer startup Relativity Space. A company spokesperson confirmed the development. This marks Schmidt’s first CEO role nearly 15 years after leaving Google.
According to a report by The New York Times, Schmidt has made a significant investment in the company and acquired a controlling stake. He replaces founder Tim Ellis as CEO, though Ellis will remain with the company as a board member.
Relativity Space is preparing to launch its new rocket, Terran R, in 2026, which could emerge as a competitor to SpaceX’s Falcon 9 and Falcon Heavy. The company has already secured launch contracts worth approximately $3 billion.
Relativity Space specializes in rocket manufacturing using 3D printing, autonomous robotics, and artificial intelligence. Although the company successfully demonstrated its technology in the 2023 launch of Terran 1, the rocket failed to reach orbit.
Schmidt’s leadership and investment are expected to play a crucial role in stabilizing the company amid financial challenges.
