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Chair of Major U.K. Air Taxi Manufacturer Steps Down

Chair of Major U.K. Air Taxi Manufacturer Steps Down
Vertical Aerospace, the United Kingdom’s foremost developer of electric vertical takeoff and landing (eVTOL) air taxis, is undergoing a leadership transition following the announcement that board chairman Dómhnal Slattery will be stepping down. Slattery shared the news on LinkedIn, reflecting on the milestone of Vertical’s first piloted transition flight in April as “one of the proudest moments” of his career. He indicated that it was the appropriate time to step back, entrusting the next phase—certifying the company’s flagship Valo air taxi—to the existing team.
Leadership Transition Amid Critical Developments
In an official statement, Vertical Aerospace acknowledged Slattery’s significant contributions, crediting his leadership with helping the company reach key milestones. The board expressed gratitude for his ongoing support despite his departure. Benjamin Story, a non-executive board member with extensive experience in aviation and finance, has been appointed interim chair while the search for a permanent successor is underway.
Slattery’s departure occurs at a crucial juncture for Vertical Aerospace. The company has recently demonstrated its Valo aircraft in major U.S. cities, including New York and Miami, successfully completing several piloted transition flights that showcased the aircraft’s ability to transition between hover and forward flight. These achievements position Vertical among a select group of eVTOL manufacturers, alongside U.S. competitors such as Joby Aviation and Beta Technologies.
However, the change in leadership introduces potential challenges regarding the company’s strategic continuity. Industry analysts caution that such transitions can unsettle investors, potentially affecting stock performance. Competitors may also seek to exploit any perceived instability by accelerating their own development and marketing initiatives. The competitive environment remains intense, with rivals like Volocopter advancing new product launches and securing additional funding.
Financial Position and Industry Challenges
Vertical Aerospace recently secured a financing package of up to $800 million, supplementing an earlier $50 million raise, to support its certification efforts through 2028. While this substantial funding bolsters the company’s position, its ongoing investment in certification and operational expansion continues to result in significant net losses. The broader eVTOL sector faces additional uncertainties, including the potential impact of investigations into trade practices involving key players such as Joby Aviation, whose partnership with Delta Air Lines could be jeopardized.
Adding to Vertical’s pressures is an ongoing lawsuit filed by competitor Archer Aviation, which alleges notable similarities between the two companies’ flagship aircraft designs.
Reflecting on Vertical’s evolution, Slattery remarked, “Five years ago, Vertical Aerospace was a handful of people and an ambition. Today, it sits at the forefront of the global eVTOL sector—a category-leading aircraft, the strongest order book in the industry, a financial package of up to $850 million closed, and a world-first piloted transition flight complete.”
Slattery’s tenure as chair began in January 2022 and lasted until August 2023, before he returned to the role in early 2025. His extensive background includes founding CEO of Avolon and senior leadership positions at RBS Aviation Capital (now SMBC Aviation Capital), two of the world’s largest aircraft lessors. Interim chair Benjamin Story brings a wealth of experience from his roles on the boards of Transport for London, Citigroup, Rolls-Royce, and ITP Aero, as well as senior positions at Morgan Stanley and Deutsche Bank. Slattery expressed confidence in Story’s leadership during the interim period, stating, “I have no doubt the company will thrive under his guidance while a permanent chair is appointed.”

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