Richard Branson has stepped down as chairman of Virgin Hyperloop One, Bloomberg and Reuters are reporting. Branson announced his decision Monday, saying the company needed a more involved chairman as it moves forward with its plans to build a fully operational hyperloop.
Last week, the Financial Times reported that Saudi Arabia had canceled a feasibility study with the company after Branson criticized the kingdom for its involvement in the death of journalist Jamal Khashoggi.
A little over a year ago, the company made the surprise announcement that Branson would be joining the board of directors, as well as making an undisclosed investment, leading the company to rebrand itself as Virgin Hyperloop One.
“At this stage in the company’s...
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