Richard Branson Steps Down As Chairman of Virgin Hyperloop One

Richard Branson is stepping down as chairman of Virgin Hyperloop One -- 'the company that plans to build a supersonic transport system in the United Arab Emirates and other countries,' reports Reuters. The reason is because the company needs a more actively involved leader. From the report: The Financial Times reported last week that Saudi Arabia had terminated a planned deal with Virgin Hyperloop One after Branson halted investment talks with Riyadh over the Jamal Khashoggi affair. 'At this stage in the company's evolution, I feel it needs a more hands-on Chair, who can focus on the business and these opportunities,' the statement quoted Branson as saying. 'It will be difficult for me to fulfill that commitment as I already devote significant time to my philanthropic ventures and the many business within the Virgin Group.'

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