With several key appointments being made over the last couple of months, Archer has announced Ben Lu as its new Chief Financial Officer.
As the company’s first C-suite level finance hire, Lu arrives following a successful five-year period at Logitech, where he was VP of Finance and managed a global finance team. This includes Corporate FP&A, Treasury, Investor Relations and various other finance functions.
Lu joins an ever increasing team at Archer, after the company first appointed 20 engineers from Aerion Supersonic following its closure. Following this, Bob Ellithorpe and Glen Burks joined as VP of Program Management and VP of Manufacturing respectively, with Jeff Greenwood coming on board as Chief Flight Test Pilot and Dave Dennison as VP of Engineering.
In his new role at Archer – which was co-founded by Brett Adcock and Adam Goldstein – his main responsibilities will be to continue growing and overseeing the finance and investor relations department. In particular, Lu will oversee the company’s finances as it transitions to a public company following the completion of the proposed business combination with Atlas Crest Investment Corp. This transaction is currently expected to close this fall.
Lu said: “My entire career has been focused on helping tech companies scale by creating strategic approaches to finance and investor relations. I am excited and ready to step into this role for Archer. The company Brett and Adam have built is rooted in an aspirational vision of the future and I can’t wait to add to the expertise of the team that will make that vision a reality.”
As head of investor relations, Lu led the team during a period where Logitech achieved a 10x increase in shareholder value – from $2 billion to $20 billion.
They also helped the company scale revenues from $2 billion in 2017 to more than $5 billion in 2021. This was on top of increasing operating profits fivefold from $238 million to $1.3 billion over the same time period.
Adcock said: “Finding the right CFO is no small task, but Ben’s past results and unique investor-driven approach is exactly what Archer needs as we transition from privately-owned startup to a quickly-scaling public company. As we navigate the closing of our merger with Atlas Crest, we’re thrilled to have Ben at the financial helm, preparing a strategy that can be implemented on day one.”
Goldstein added: “Brett and I have been honoured to welcome so much new talent into the Archer team, and Ben is certainly no exception as a standout in his field. At Archer we pride ourselves on assembling only the best, brightest, and most passionate and are thrilled to add Ben’s experienced voice to our senior leadership team.”
Archer is on course to begin commercial services as early as 2024, unveiled its eVTOL aircraft Maker during a livestream event in Los Angeles.