Virgin Galactic Takes Charge of Disney’s International Parks as Next CEO

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Virgin Galactic Holdings Inc. SPCE,
+ 0,65%
shares rose Wednesday after the space travel company said it had poached a Walt Disney Co. DIS
+ 1.88%
executive to serve as general manager. Virgin Galactic shares rose 4.6% in after-hours activity, after rising 0.7% to close at $ 18.55 in regular session. Virgin Galactic announced Wednesday that it has appointed Michael Colglazier as its new CEO, effective July 20. At Disney, Colglazier was President and CEO of the company’s international parks division, which includes Disneyland Paris, Hong Kong Disneyland, Shanghai Disney Resort and Tokyo. Disney Resort with the Oriental Land Co. Colglazier will also join the board of directors of Virgin Galactic on July 20. Virgin Galactic has stated that its first CEO, George Whitesides, will begin serving as Chief Space Officer when Colglazier joins.

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