Rocket Lab USA, Inc. ( RKLB ) shares are trading higher on Wednesday.

Yesterday, the company announced that Frank Klein will be its new Chief Operations Officer, effective September 16th, 2024.

Rocket Lab Founder and CEO Peter Beck noted that Klein will help enhance the Electron launch and production schedule, implement Neutron, and bolster the company’s satellite and space systems divisions.

Klein, bringing over 30 years of global manufacturing and automotive industry leadership, joins Rocket Lab to drive the scaling of spacecraft, launch vehicles, and components. He will oversee efforts to address the company's substantial backlog of over one billion dollars in customer orders.

Klein served Daimler AG (now Mercedes-Benz Group) for 27 years, leading various business divisions.

Also Read: NASA Escorted Rocket Lab CEO Off Its Premises In 2006 — He Then Drew A Logo On A Napkin And Launched His Own Multi-Billion Dollar Space Business

Most recently, Klein was COO at Rivian Automotive, where he played a key role in evolving the company from a low-volume startup into a high-volume premium electric vehicle manufacturer, overseeing more than 9,000 employees.

According to Benzinga Pro, RKLB stock has gained over 5% in the past year. Investors can gain exposure to the stock via Procure Space ETF ( UFO ) and SPDR S&P Kensho Final Frontiers ETF ( ROKT ) .

Price Action: RKLB shares are trading higher by 2.44% to $6.30 at last check Wednesday.

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