Inside Quantum Technology

Chad Rigetti resigning from Rigetti Computing

Chad Rigetti is resigning from the company that he founded and which bears his name. The move will be effective December 15, and comes just days after the company announced that Dr. Rigetti would step back from leading the company to focus more on product development.

Rigetti Computing, one of the oldest–if not the oldest–pure-play quantum computing firms, has been undertaking a search for a new leader, but if one can’t be found by Dec. 15, Rick Danis, General Counsel and Corporate Secretary, will serve as interim President and CEO. 

Rigetti Computing is due to report earnings on Nov. 14. The company went public last spring after a much-celebrated SPAC merger, but its stock has struggled to retain value. Rigetti admitted back in May that lower-than-expected proceeds from its merger were combining with macroeconomic headwinds to force the company to delay its product roadmap.

But, less than two months ago at a September Investors Day event, Chad Rigetti and others with the firm were upbeat about the company’s prospects, and talked about how Rigetti’s innovative Fab-1 facility would help it execute its roadmap.

Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.

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