Introduction of Eric Schmidt as CEO

Former Google CEO Eric Schmidt is taking over as the CEO of Relativity Space, a 9-year-old rocket startup. This move marks Schmidt's first CEO job since he left Google nearly 15 years ago. On Monday, Schmidt told employees of Relativity Space that he made a significant investment and had taken a controlling stake in the company.

Schmidt is succeeding the startup's co-founder, Tim Ellis, as chief executive. In a post on X, Ellis noted he will continue to support Relativity Space as a director on the company's board. The change in leadership comes as Relativity Space gears up for the 2026 launch of Terran R, a larger rocket than what the startup has launched before, which would compete with SpaceX's Falcon 9 and Falcon Heavy.

Background of Eric Schmidt

Schmidt was the CEO of Google for roughly 10 years. He was brought on to lead the rapidly growing search company in 2001, as Google's board pressured its young founders, Sergey Brin and Larry Page, to allow an experienced business leader to take the reins. Now, Schmidt will become CEO of Relativity Space at a critical moment in the company's history.

He may offer the rocket startup both capital and experience to help guide it through the launch of Terran R. Additionally, Schmidt is quite well-connected in Washington, D.C., which could potentially assist Relativity Space in working with government officials on future launches.

Relativity Space's Technology and Milestones

Relativity Space is known for producing its rockets with unusual techniques, including the use of 3D printers, automated robots, and artificial intelligence. The company previously announced a plan to launch the first private space mission to Mars by 2024. However, certain challenges have delayed those audacious milestones.

In 2023, Relativity Space successfully launched its Terran 1 rocket, demonstrating that its 3D-printed technology could function effectively. However, Terran 1 failed to reach orbit. A month later, the startup announced that it would discontinue Terran 1 to focus entirely on developing the Terran R.

The Long Beach-based rocket company reportedly faced cash shortages in 2024 and struggled to raise additional funding, Bloomberg previously reported. Previous investors in Relativity Space include Mark Cuban, BlackRock, and Fidelity.

Future Prospects

With fierce competition in the space industry — from companies such as SpaceX, Rocket Lab, and Blue Origin — it seems Relativity Space could benefit from someone like Schmidt at the helm. While running a rocket company is quite different from managing a search engine company, Schmidt has proven to be a valuable operator who can effectively grow startups in the past.