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Tom Vice, CEO of Sierra Area, talks to staff in entrance of the corporate’s Dream Chaser spaceplane on October 30, 2023 in Louisville, Colorado.
Helen H. Richardson | DenverPost | Getty Pictures
Sierra Area CEO Tom Vice has left the corporate, CNBC confirmed Monday.
In an announcement, Sierra Area stated Vice was retiring on December 31. Chairman Fatih Ozmen will function interim CEO, with Eren Ozmen as president.
“After three and a half years on this position, Tom Vice has retired as CEO of Sierra Area on the finish of 2024. We thank him for his management and need him nicely in his retirement,” a Sierra Area spokesperson stated in an announcement.
Sierra was spun out of aerospace contractor Sierra Nevada Company (SNC) in 2021 and is among the most useful personal U.S. corporations within the fast-growing area sector, not too long ago valued at greater than $5 billion. However Sierra Area has struggled to launch the primary mission of its reusable cargo area aircraft referred to as Dream Chaser, which is essential for the corporate to ascertain itself as a serious participant within the business.
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Vice was named CEO of Sierra Area in 2021, a couple of months after SNC house owners Fatih and Eren Ozmen spun off the corporate – with traders together with Normal Atlantic, Coatue, BlackRock and AE Industrial Companions. Vice was beforehand the CEO of Aerion Supersonic, a startup that deliberate to construct quick enterprise jets and which closed in April 2021.
The primary Dream Chaser car is anticipated to debut in 2021. However even in 2024, the spaceplane, named Tenacity, wasn’t prepared when United Launch Alliance’s Vulcan rocket, its trip to area, was as a consequence of launch.
Dream Chaser has gained NASA contracts to fly seven cargo missions to and from the Worldwide Area Station. Sierra Area stated Tenacity is concentrating on a launch no ahead of Could.
The corporate has continued to develop its inflatable area station expertise and expanded right into a satellite tv for pc bus product line after profitable a high-profile $740 million Pentagon contract final yr.
Sierra Area noticed layoffs throughout Vice’s tenure, in addition to turnover in a variety of senior govt positions. However in 2024, Vice repeatedly talked about Sierra Area’s plan to go public, outlining a tentative path to an IPO as early as late 2025.
Sierra Area CEO Tom Vice is leaving the corporate
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