Long-time Google exec resigns from SpaceX board
What's the story
Donald Harrison, a long-time Google executive, has resigned from the board of directors at SpaceX. Harrison has been with Google since 2005 and is currently serving as the President of Global Partnerships and Corporate Development. In its regulatory filing, SpaceX clarified that "Mr. Harrison's decision to resign was not due to any disagreement with the Company on any matter relating to its operations, policies, or practices."
Market impact
Alphabet's investment in SpaceX
The announcement of Harrison's resignation comes just five months after SpaceX's landmark IPO, which was the largest on record.
Google parent company Alphabet has a long-standing relationship with SpaceX, having invested in Elon Musk's company back in 2015 when it was valued at about $12 billion.
Today, Alphabet is the largest institutional shareholder in SpaceX with a stake worth $74 billion as of Friday's close.
Continued collaboration
Google's continued support for SpaceX
Despite Harrison's departure from the board, Google has reiterated its commitment to SpaceX's mission.
The tech giant said in an emailed statement, "While Don is stepping down from the board, we remain deeply supportive of SpaceX's mission and are excited to continue our long-standing partnership."
This comes as reassurance of their continued collaboration in projects such as Project Suncatcher.