Eric Schmidt Named CEO of Relativity Space

Eric Schmidt Appointed CEO of Relativity Space

Eric Schmidt, previously the CEO of Google, has assumed the role of CEO at Relativity Space, a rocket startup established nine years ago. Confirmation of this leadership change was provided to TechCrunch by a company representative.

This marks Schmidt’s return to a CEO position after a hiatus of nearly fifteen years since his departure from Google.

Investment and Leadership Transition

Schmidt informed Relativity Space employees on Monday that he had made a substantial investment and secured a controlling interest in the company, as initially reported by The New York Times.

The transition sees Schmidt succeeding Tim Ellis, the startup’s co-founder, as chief executive. Ellis will remain involved with Relativity Space, continuing his service as a director on the company’s board, as he announced on X.

Focus on Terran R Launch

Schmidt’s arrival coincides with Relativity Space’s preparations for the 2026 launch of Terran R. This rocket represents a significant increase in scale compared to the startup’s prior launches.

Terran R is designed to compete directly with rockets like SpaceX’s Falcon 9 and Falcon Heavy. Relativity Space has already secured approximately $3 billion in launch contracts in anticipation of Terran R’s inaugural flight, according to reports from The Times.

Schmidt’s Previous Role at Google

Schmidt served as Google’s CEO for approximately ten years. He was appointed in 2001 to lead the rapidly expanding search company.

His appointment was driven by Google’s board, who sought an experienced leader to guide the company’s young founders, Sergey Brin and Larry Page.

Strategic Importance of the Appointment

Schmidt’s appointment to Relativity Space occurs at a pivotal juncture in the company’s development. He is expected to provide both financial resources and valuable experience to facilitate the Terran R launch.

Furthermore, Schmidt’s extensive network in Washington, D.C., could prove beneficial in navigating governmental interactions regarding future launch operations.

Innovative Manufacturing Techniques

Relativity Space distinguishes itself through its unconventional rocket production methods. These include the utilization of 3D printers, automated robotic systems, and artificial intelligence.

The company had previously outlined plans for a private space mission to Mars by 2024, though certain obstacles have led to adjustments in these timelines.

Terran 1 and the Shift to Terran R

In 2023, Relativity Space achieved a milestone with the successful launch of its Terran 1 rocket, validating the effectiveness of its 3D-printed technology. However, Terran 1 did not achieve orbital insertion.

Following this, the startup announced its decision to discontinue the Terran 1 program and concentrate all efforts on the development of the Terran R.

Financial Challenges and Investor Base

Reports indicate that Relativity Space encountered financial difficulties in 2024 and faced challenges in securing further funding, as previously detailed by Bloomberg.

The company’s existing investors include prominent figures and institutions such as Mark Cuban, BlackRock, and Fidelity.

Industry Competition and Schmidt’s Expertise

While the challenges of operating a rocket company differ from those of a search engine, Schmidt has a proven track record of successfully scaling startups.

Given the intense competition within the space industry – including companies like SpaceX, Rocket Lab, and Blue Origin – Relativity Space stands to gain from Schmidt’s leadership.