Insider Brief
- Tom Vice, CEO of Sierra Space has departed the company, with a statement announcing Vice’s retirement effective December 31, 2024.
- Fatih Ozmen, the company’s chairman, has stepped in as interim CEO, while Eren Ozmen continues as president.
- The company, valued at over $5 billion, faces significant challenges as it prepares for the first mission of Dream Chaser, its reusable cargo space plane which is slated to launch no earlier than May 2025.
Tom Vice, CEO of Sierra Space has departed the company, as confirmed by CNBC on Monday. A statement from Sierra Space announced Vice’s retirement, effective December 31, 2024. Fatih Ozmen, chairman of the company, has stepped in as interim CEO, while Eren Ozmen continues as president. Vice served as CEO for three and a half years, following his appointment in 2021 after Sierra Space was spun off from Sierra Nevada Corporation (SNC).
The company, valued at over $5 billion, faces significant challenges as it prepares for the first mission of Dream Chaser, its reusable cargo space plane. The vehicle, named Tenacity, has faced repeated delays since its original 2021 launch target. As of now, Tenacity’s launch aboard United Launch Alliance’s Vulcan rocket is slated for no earlier than May 2025.
Dream Chaser’s success is vital to fulfilling Sierra Space’s NASA contract for seven cargo missions to the International Space Station. Despite these delays, the company has made strides in other areas. It continues to advance its inflatable space station technology and has entered the satellite bus market, buoyed by a $740 million Pentagon contract awarded in 2023.
During Vice’s tenure, Sierra Space experienced layoffs and notable executive turnover. However, Vice remained vocal about the company’s vision, including plans for a public offering as early as late 2025.
Image credit: Sierra Space
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