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Richard Branson steps down from role as chairman of Virgin Hyperloop

DUBAI: Richard Branson is quitting as chairman of Virgin Hyperloop One after saying the company, that plans to build a supersonic transport system in the UAE and other countries, needs a more actively involved leader, a statement confirmed on Monday.
“At this stage in the company’s evolution, I feel it needs a more hands-on Chair, who can focus on the business and these opportunities,” the statement quoted Branson as saying.
“It will be difficult for me to fulfil that commitment as I already devote significant time to my philanthropic ventures and the many businesses within the Virgin Group.”
Virgin Hyperloop One’s biggest shareholder, Dubai’s DP World, said the company was seeking a new chairman.
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