Virgin Galactic Chairman Chamath Palihapitiya Steps Down

Virgin Galactic Holdings Inc. said Chamath Palihapitiya is stepping down as chairman at the spaceflight company he helped to take public using a blank-check company.

Mr. Palihapitiya had led the board at Richard Branson-founded Virgin Galactic for more than two years, according to the company. He is moving on to focus on other public company board commitments, Virgin Galactic said Friday.