Tom Vice, the CEO of Sierra Space, resigned from his position, CNBC verified Monday.
Vice retired on December 31, according to a statement from Sierra Space. Eren Ozmen will be president, and chairman Fatih Ozmen will act as interim CEO.
In a statement, a Sierra Space spokeswoman said, “We thank Tom Vice for his leadership and wish him well in his retirement.” Vice had served as Sierra Space CEO for three and a half years until retiring at the end of 2024.
The aerospace contractor Sierra Nevada Corporation, or SNC, was spun out in 2021. With a most recent valuation of over $5 billion, Sierra is among the most valuable private U.S. enterprises in the rapidly expanding space industry. However, the company’s ability to become a major player in the sector depends on Sierra Space successfully launching the first flight of its reusable freight space plane, Dream Chaser.
A few months after SNC founders Fatih and Eren Ozmen spun out the company with investors including General Atlantic, Coatue, BlackRock, and AE Industrial Partners, Vice was appointed CEO of Sierra Space in 2021. Prior to its closure in April 2021, Vice served as CEO of Aerion Supersonic, a fledgling company that aimed to construct fast business aircraft.
By 2021, the first Dream Chaser car was expected to be on the road. But even in 2024, when United Launch Alliance’s ride to space, the Vulcan rocket, needed to launch, the spacecraft, called Tenacity, was not prepared.
Seven freight flights to and from the International Space Station have been awarded to Dream Chaser by NASA. According to Sierra Space, Tenacity plans to launch no early than May.
Since obtaining a high-profile $740 million Pentagon contract last year, the business has expanded into a satellite bus product line and continues to develop its inflatable space station technology.
During Vice’s time at Sierra Space, there were layoffs and changes in several key leadership positions. However, Vice frequently mentioned Sierra Space’s intention to go public in 2024, laying out a rough timeline for an IPO as early as late 2025.
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