Less than a week after pulling off the largest initial public offering in Wall Street history, Elon Musk has turned to a trusted figure from his earliest entrepreneurial days to help oversee SpaceX’s new life as a public company.
SpaceX announced the appointment of Roelof Botha, the South African-born venture capitalist and former PayPal chief financial officer, to its board of directors and audit committee, a move widely seen as strengthening governance and investor oversight following the company’s blockbuster $75 billion stock market debut.
The appointment, effective June 16, comes as SpaceX adapts to the demands of public ownership after its Nasdaq listing pushed the rocket and satellite giant’s valuation beyond $2.1 trillion.
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For Musk, the move represents a reunion more than 25 years in the making.
