High-speed futuristic transportation company Virgin Hyperloop One is changing up its leadership.
CEO Rob Lloyd has left after three years at the helm and Jay Walder, who ran bike-sharing operator Motivate, is now heading up Virgin Hyperloop One, the company said Thursday.
DP World, which participated in Virgin Hyperloop One’s latest financing round, is now the company’s largest investor. DP World first invested in the company in 2016. Earlier this year, the two companies launched a logistics joint venture to develop hyperloop transport for cargo.
Walder is also joining the board of directors.
Virgin Hyperloop One said that the new senior management team will focus on commercialization, specifically a proposed hyperloop system in India.
Walder has a long history in transportation. He most recently ran Motivate, the largest bike-share company in North America. Motivate, which was acquired by Lyft in July, operates bike share programs in New York as CitiBike,