Chief executive of Forres-based Orbex jettisoned weeks before spaceport construction due to begin
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A SPACE firm based in Forres which is due to launch satellites into space from a Caithness spaceport next year has parted company with its chief executive.
Chris Larmour, the founding CEO of Orbex – whose Prime rockets are due to take small satellites into space from next year – is leaving in a management shake-up.
The firm said it was "transitioning the company management team to prepare for the next stage of growth" and that Mr Larmour was stepping back to "allow a focus on new goals".
The shock move comes after the rocket-making firm secured £40.4 million in a Series C funding round led by the Scottish National Investment Bank last year.
New investors who came on board in October include the Scottish National Investment Bank, Jacobs, the Danish Green Future Fund and Verve Ventures.
Bart Markus, chairman of the board of directors, said: "We’re preparing for the next stage of the company's growth and the focus is shifting to broader strategic goals over the next decade.
"We're already committed to and preparing for the first launches, and it's time now to look beyond those immediate objectives and prepare for the next set of milestones.
"Chris has been a key part of all our successes to date, and leaves the company in a strong position. We're grateful for all his energy and commitment and wish him well on his next venture.
"We have a strong management team in place to take the company forward and we'll be making further announcements about the new leadership team in due course."
Orbex took over responsibility for the construction and running of Space Hub Sutherland from Highlands and Islands Enterprise (HIE) late last year, saying the facility would become the company's long-term “home spaceport”.
Planning permission was granted for the hub in 2020, with Scottish Land Court approval following in 2021.
Neighbouring landowner Wildland Ltd last year signed a memorandum of understanding with HIE after a failed legal bid to block the development, primarily on environmental grounds, in 2021.
The company, founded in 2015, opened its headquarters and production facility on the Enterprise Park at Forres in 2019.
Mr Larmour said: "I'm immensely proud of what the entire team has accomplished over the last seven years, and glad to be leaving Orbex in good shape, with deep pockets and a clear path to first launches.
"It's an amazing company, building something truly extraordinary, and I've been privileged to lead it thus far, working with a huge number of stakeholders, investors and colleagues to help make Orbex the leading new launch company in Europe.
“But I feel I have taken it as far as I can personally, and it's time now to step away and let others lead Orbex to the next level. I will be cheering loudly for continued success, and I'm looking forward to spectating the first launches from Sutherland.”
WATCH: Chris Larmour talks to European Spaceflight podcast
Orbex has been granted a 50-year lease to construct and operate Space Hub Sutherland and plans to launch up to 12 rockets into orbit each year, which it says will boost the local economy and create new jobs. It has been supported by the Melness Crofters Association, which leased land at the Mhoine, near Tongue, for the development.
The company said the initial phase of the construction will commence at the end of April. More information will be shared with the local community in the coming weeks, a spokesman added.
