Company recently raised a lifeline of $50 million from Caspian Venture Partners and Dubai's DP World Group
Virgin Hyperloop One’s Brent Callinicos has given up his post as chief financial officer to return to an advisory role with the company, he said Monday.
Axel Martinez, who joined the futuristic transportation company last year as senior vice president of finance, has succeeded Callinicos as CFO. Martinez and Callinicos previously worked together at Uber Technologies and Google.
“It was just time,” Callinicos, who had served as an adviser to Hyperloop since October 2016 before becoming CFO in January 2017, said. Since he joined, “the company has moved from a new technology to being on the verge of commercialization.”
Late last year, the company raised a lifeline of $50 million from Caspian Venture Partners and Dubai’s DP World Group. Virgin Hyperloop One Chief Executive Officer Rob Lloyd has been working hard to ink a deal to build its train-like system and has spent considerable time in India and Dubai discussing potential projects.
The company’s senior vice president for hardware engineering, Carl Jenkins, also left recently to join General Motors’s Cruise.
“Decided to move on for financial stability reasons and Cruise contacting me and offering me an exciting challenge back in self driving cars,” he said on his LinkedIn profile. Jenkins, who joined Virgin Hyperloop One in May 2017, had previously worked for Alphabet’s self-driving car unit.