Eleven days before laying off 675 staff, and amid a crushing financial crisis, the board of Virgin Orbit opted to revamp its executive remuneration policy. Under the terms, chief executive Dan Hart could receive compensation of $1.5mn or more should the company be taken over or go bust.
On Friday evening, Virgin Orbit appeared to be teetering on the brink. Its shares had crashed after an emotional Hart told staff on Thursday evening that the company had “ceased operations for the…
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