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Vector Launch Inc. announces pause of operations, appointment of new CEO

Posted at 9:31 PM, Aug 09, 2019
and last updated 2019-08-10 02:38:45-04

TUCSON, Ariz. - A shake-up has been announced at the Tucson-based rocket launch company, Vector Launch Inc.

The company announced on Twitter Friday night, the CEO has left the company. Jim Cantrell was in charge of trying to prepare small rockets for a suborbital flight this summer. John Garvey has been appointed as the new CEO.

Vector released the following statement:

"In response to a significant change in financing, Vector Launch Inc (Vector) announced today that it is undertaking a pause of operations. A core team is evaluating options on completing the development of the company’s Vector-R small launch vehicle, while also supporting the Air Force and other government agencies on programs such as the recent ASLON-45 award. The company plans to make more information available next week."

The announcement comes two days after the company won a $3 million launch contract from the U.S. Air Force.

Besides the Tucson headquarters, Vector has two sites in California and a total of at least 150 employees.

Stay with KGUN9-TV and kgun9.com for more on this developing story.