Jay Gibson’s two-year tenure as president and CEO of XCOR appears to be at an end.
On Friday, President Donald Trump announced his intent to nominate Gibson to be deputy chief management officer of the Department of Defense.
The announcement describes Gibson as “most recently” having been XCOR’s president and CEO. However, a source says he is still at the company.
The nomination is subject to Senate confirmation.
XCOR hired Gibson in March 2015 to replace founder Jeff Greason. The objective was for Gibson to focus on the business side while Greason focused on completing construction on the Lynx suborbital space plane.
That arrangement did not work out. By November, Greason and two other founders, Dan DeLong and Aleta Jackson, had left the company to found Agile Aerospace.
In May 2016, XCOR laid off about 25 employees — roughly half of its workforce — and suspended work on the Lynx. The company has since refocused its energies on its rocket engine work.
UPDATE: XCOR board member Michael Blum issued the following written statement:
“Jay Gibson is still at XCOR but will be leaving shortly for a tremendous opportunity to serve his country in a very senior role at DoD. He has been a great CEO whose leadership and experience has guided XCOR through ups and downs.”