Tom Vice, CEO of Sierra Space, talks to staff in entrance of the corporate’s Dream Chaser area aircraft on Oct. 30, 2023 in Louisville, Colorado.
Helen H. Richardson | Denver Post | Getty Images
Sierra Space CEO Tom Vice has left the corporate, CNBC confirmed Monday.
In a press release, Sierra Space stated Vice retired Dec. 31. Chairman Fatih Ozmen will function interim CEO, with Eren Ozmen as president.
“After three and half years within the function, Tom Vice has retired as Sierra Space CEO as of the tip of 2024 — we thank him for his management and need him properly in his retirement,” a Sierra Space spokesperson stated in a press release.
Spun out of aerospace contractor Sierra Nevada Corporation, or SNC, in 2021, Sierra is likely one of the most precious non-public U.S. firms within the burgeoning area sector, most lately valued at more than $5 billion. But Sierra Space has struggled to launch the primary mission of its reusable cargo area aircraft known as Dream Chaser, which is essential to the corporate establishing itself as a significant participant within the business.
Vice was named CEO of Sierra Space in 2021, just a few months after SNC house owners Fatih and Eren Ozmen spun out the corporate — with buyers together with General Atlantic, Coatue, BlackRock and AE Industrial Partners. Vice was beforehand the CEO of Aerion Supersonic, a startup that deliberate to construct high-speed enterprise jets and that shut down in April 2021.
The first Dream Chaser automobile was alleged to debut by 2021. But even in 2024, the area aircraft, named Tenacity, was not prepared when United Launch Alliance’s Vulcan rocket, its trip to area, needed to launch.
Dream Chaser has received NASA contracts to fly seven cargo missions to and from the International Space Station. Sierra Space stated Tenacity is focusing on a launch no sooner than May.
The firm has continued to develop its inflatable space station technology, in addition to increase right into a product line of satellite buses after profitable a high-profile $740 million Pentagon contract final 12 months.
Sierra Space saw layoffs throughout Vice’s tenure, in addition to turnover in quite a few senior govt roles. But in 2024, Vice spoke repeatedly of Sierra Space’s plan to go public, outlining a tentative path to IPO as quickly as late 2025.
