Virgin Hyperloop One has a new CEO and board chairman

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.

Sir Richard Branson, who stepped down as chairman in October, has been replaced with Sultan Ahmed bin Sulayem, chairman and CEO of the United Arab Emirates shipping and logistics company DP World.

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…

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