Sierra Space CEO Tom Vice has officially departed from the company, as confirmed by CNBC on Monday. In an announcement, Sierra Space disclosed that Vice retired on December 31. Chairman Fatih Ozmen will step in as interim CEO, while Eren Ozmen will assume the role of president.
“After serving in the capacity of Sierra Space CEO for three and a half years, Tom Vice has retired effective the close of 2024. We express our gratitude for his guidance and extend our best wishes for his retirement,” a spokesperson for Sierra Space stated.
Initially launched as a separate entity from aerospace contractor Sierra Nevada Corporation (SNC) in 2021, Sierra Space has emerged as one of the premier privately-held firms in the rapidly expanding space industry, with a recent valuation exceeding $5 billion. Despite its substantial financial standing, Sierra Space has encountered challenges in successfully initiating the inaugural mission of its reusable cargo spacecraft known as Dream Chaser, a pivotal endeavor for solidifying its position as a key contender in the sector.
Vice assumed the role of Sierra Space CEO in 2021, shortly following the spinoff of the company by SNC proprietors Fatih and Eren Ozmen, in conjunction with investments from prominent entities such as General Atlantic, Coatue, BlackRock, and AE Industrial Partners. Prior to his tenure at Sierra Space, Vice held the position of CEO at Aerion Supersonic, a startup focused on constructing high-speed business jets, which ceased operations in April 2021.
The maiden flight of the initial Dream Chaser vehicle was slated for a 2021 debut. However, as of 2024, the spacecraft, named Tenacity, remained unfinished when the United Launch Alliance’s Vulcan rocket, designated to transport it into space, was prepared for liftoff.
Dream Chaser has secured contracts from NASA for seven cargo expeditions to and from the International Space Station. Sierra Space has disclosed that Tenacity is currently aiming for a launch no earlier than May.
Moreover, the company has persisted in advancing its innovative inflatable space station technology and has diversified its product lineup to include satellite buses subsequent to securing a prominent $740 million Pentagon contract in the prior year.
Throughout Vice’s tenure, Sierra Space witnessed staff reductions and experienced turnover within several senior executive positions. Nonetheless, in 2024, Vice consistently articulated Sierra Space’s intentions of going public, outlining a tentative roadmap for an initial public offering potentially by late 2025.
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