DUBAI: November 12, 2018. Sultan Ahmed bin Sulayem, Group chairman and CEO of DP World, has been elected chairman of Virgin Hyperloop One following the resignation of Sir Richard Branson.

Sultan Ahmed bin Sulayem Virgin Hyperloop OneThe appointment reflects DP World’s position as the company’s largest single investor and the hyperloop company’s migration from technology startup to mass transportation with the expected implementation of a system between Pune and Mumbai.

The Indian government has designated the link a public infrastructure project and the company expects to start construction of an 11-kilometre test loop next year. When completed, hyperloop can reduce the travel time between Mumbai and Pune from four hours to 25 minutes.

Jay Walder, former chairman and CEO of the Metropolitan Transportation Authority in New York, CEO of the MTR Corporation in Hong Kong and managing director at Transport for London, has been appointed CEO to replace
Rob Lloyd, who is leaving the company after successfully leading its initial growth and development.

“As we enter uncharted territory in implementing an entirely new kind of mass transportation system, we needed a leader with a deep understanding of public transportation, experience in infrastructure financing, a track record of project delivery, and success working with government and private sector partners,” commented Bin Sulayem.

“We could not have found a more ideal candidate than Jay Walder for the next stage of the company’s development and the historic growth of this new industry,” he added.