Air taxi start-up Lilium finds new chief financial officer

The demonstrator of the Lilium jet

The young company from Munich wants to bring its five-seater onto the market as early as 2025.

(Photo: Reuters)

Frankfurt The German start-up Lilium is getting a new CFO. As the company from Weßling near Munich announced on Thursday, Geoffrey Richardson has been entrusted with the duties of CFO with immediate effect. The financial expert already worked in the same position in California, most recently at the autonomous vehicle specialist Cruise.

“Geoffrey Richardson’s track record in high-growth companies combined with a long-term, sustainable vision and strong leadership skills ideally qualify him for the key position of CFO”, Daniel Wiegand, CEO and co-founder of Lilium, is quoted in a company statement. He has extensive experience in managing the finance department of a future-oriented mobility company.

Lilium is one of the German start-ups working on completely new aircraft. The goal is a five-seater that is electrically operated and takes off and lands vertically. It should be equipped with 36 engines. A first demonstrator has already taken off several times. At the end of the development, there should be a Lilium jet that can reach up to 300 kilometers per hour and with its batteries has a range of 300 kilometers.

Newcomer Richardson has some interesting stations on his résumé. He was CFO at the glass manufacturer Kinestral, where he oversaw several financing rounds. He started his career as a lawyer with Shearman & Sterling. He was also Executive Director at Morgan Stanley and Vice President at Goldman Sachs.

The new CFO should therefore have good contacts, particularly in the USA. This is important for future financing rounds because Lilium only agreed to cooperate with the US property developer Tavistock Development Company a few days ago. The common goal: The first so-called Vertiport in the USA is to be built in Lake Nona near Orlando (Florida). Vertiports are special airports for the high flyers from Lilium.

The station is planned to be operational as early as 2025. Based on the range of the Lilium jet, the Vertiport has a catchment area with at least 20 million people. In addition, many trade fairs and congresses traditionally take place in and around Orlando with one of the most important target groups for the young company: a large number of business customers.

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