Martin Aircraft founder Glenn Martin quits board over strategy differences; shares fall

Thu, 04 Jun 2015

By Jonathan Underhill June 4 (BusinessDesk) - Martin Aircraft shares fell after founder Glenn Martin unexpectedly quit the board, reportedly because the backyard jetpack inventor wasn't enjoying the company's corporate culture and pursuit of professional customers. The shares declined 3.2 percent to 75.5 Australian cents on the ASX, having retreated from as much as A$1.52 on March 25. The company debuted on the ASX on Feb. 24, after raising A$27 million to fund the commercialisation of its jetpack in an initial public offering at 40 Austr...

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