Former Google CEO Eric Schmidt is set to take the reins as the new CEO of Relativity Space, a 9-year-old rocket startup, a company spokesperson confirmed in a statement to TechCrunch. This marks Schmidt's first CEO job since he left Google roughly 15 years ago.

Schmidt's appointment comes after he made a significant investment in the company and took a controlling stake, as reported by the New York Times. He will succeed Relativity Space's co-founder, Tim Ellis, as chief executive. The move is seen as a strategic one, given Relativity Space's ambitious plans to launch its Terran R rocket in 2026, which will compete with SpaceX's Falcon 9 and Falcon Heavy.

Relativity Space has already secured nearly $3 billion in launch contracts with customers in anticipation of Terran R's first launch. The company is known for its innovative approach to rocket production, utilizing 3D printers, automated robots, and artificial intelligence. This unique approach has garnered significant attention in the space technology industry, with many seeing Relativity Space as a potential disruptor.

Despite its bold ambitions, Relativity Space has faced setbacks, including launch failures that have put its plans to send the first private space mission to Mars by 2024 on hold. However, with Schmidt at the helm, the company is likely to receive a boost in terms of resources, expertise, and industry connections. Schmidt's experience in leading Google's rapid growth and innovation is expected to be invaluable in helping Relativity Space overcome its challenges and achieve its goals.

The appointment also raises questions about the future of Relativity Space's relationship with SpaceX, given Schmidt's history with Google and SpaceX's founder Elon Musk. While it's unclear what impact this will have, it's likely that Relativity Space will continue to push the boundaries of space technology innovation, driven by Schmidt's vision and leadership.

In the broader context, Schmidt's move to Relativity Space highlights the growing interest in space technology and the private space industry. With companies like SpaceX, Blue Origin, and now Relativity Space, the industry is rapidly evolving, driven by innovation, investment, and ambition. As the space technology landscape continues to shift, Schmidt's leadership at Relativity Space is likely to play a significant role in shaping the future of the industry.

As Relativity Space gears up for the launch of Terran R, all eyes will be on Schmidt and his team to see how they navigate the challenges and opportunities ahead. With his track record of driving innovation and growth, Schmidt's appointment as CEO of Relativity Space is likely to be a significant turning point for the company and the industry as a whole.