MIAMI – Boom Supersonic, the developer of the world’s fastest aircraft, announced it has welcomed two new senior executives to accelerate the next phase of development and advancement. Joe Massaquoi will serve as Chief Financial Officer and Kathy Savitt will be President and Chief Commercial Officer.
New Allies, New Members
Joe Massaquoi was CFO of Initium Aerospace, a holding company formed by Boeing and Safran to design auxiliary power units. Moreover, he served as Chief Executive Officer of Enterprise Development at Boeing and held senior positions at two investment banks. Over the course of his career, Massaquoi led financial and funding deals worth over US$36bn in new capital infusions.
Kathy Savitt, a former Boom Strategist, has recently been the founder of Perch Partners. Perch is the advisory company in the development and transition strategy focusing on new technologies, airlines, healthcare, and sports/entertainment. In addition, she served in Alaska Airlines’ (AS) Board and a number of C-Suite and senior executive positions in Fortune 500, including Yahoo and Amazon.
Massaquoi and Savitt join Boom at a crucial moment, allowing Boom to boost its finance and market strategy. In 2020, Boom reached crucial milestones that prepared the organization for its next expansion period. Most importantly, agreements with Rolls-Royce and Collins Aerospace, as well as a strategic collaboration with the US Air Force to pursue a potential Overture variant for government executive transport.
Boom virtually unveiled its supersonic demonstrator, XB-1 in October, the world’s first independently designed supersonic jet. In addition, Boom will develop on 2020’s momentum to fly the XB-1 supersonic demonstrator, leading to finalize the conceptual design of its flagship supersonic, Overture.
Boom also has formally welcomed three new members of the Board of Directors: Dr. Ray O Johnson, Michael Marks, and Jacqueline D Reses. Dr. Johnson is a Boom consultant and veteran at Lockheed Martin, where he was Senior Vice President and Chief Technology Officer. During his leadership, with a team of more than 70,000 staff, over 4,000 projects of interest to U.S. national security performed.
Michael Marks is the founding Executive Partner for WRVI Capital. He co-founded Katerra, a building technology firm, was a founding partner of Riverwood Capital Management, a private equity fund, and served as CEO of Flextronics for 13 years which made it one of the world’s largest technology firms.
Jacqueline Reses worked as the head of Square Resources, expanding access to finance for small companies. She served as Chief Business Officer at Yahoo and participated with Alibaba Team, helping to facilitate the IPO. Ms. Reses perform on number of public and private boards with strong background in private equity, mergers and acquisitions.
Sustainable Supersonic Travel
“The 2020 accomplishments—the XB-1 unveiling, the signing of an engine partnership with Rolls-Royce, and many more—brought us closer to our vision of mainstream supersonic travel,” said Blake Scholl, Boom’s founder, and CEO. “With every goal we hit, we get closer to making the planet more available through mainstream, sustainable, supersonic transport.”
Both Joe and Kathy are contributing fantastic marketing strategy and leadership skills to Boom. Together with our latest board members Ray, Michael, and Jackie, Boom now has a squad, tools, and collaborations in place to accomplish our ambitious 2021 targets and achieve our long-term vision.”
Boom Aircraft at a Glance
What: A one-third scale demonstrator airplane for Overture and a critical step toward commercial supersonic travel
Purpose: XB-1 will prove the key technologies for safe, efficient, and sustainable travel at supersonic speeds
Engine: 3 GE J85-15 Engines
Rollout: October 7, 2020
Flight testing: 2021
What: The world’s fastest airliner, designed and committed to industry-leading standards of speed, safety, and sustainability
Routes: More than 500 transoceanic routes
Sustainability: 100% SAF fuel capability
Ticket price: Fares similar to today’s long-haul business class
Sale price: $200 million, plus options and interior
Flight testing: Mid 2020’s
Passenger flights: By 2030
Featured image: Boom Supersonic