Sierra Space CEO Tom Vice has departed from the company, as confirmed by CNBC on Monday. Sierra Space announced that Vice retired on December 31. Fatih Ozmen, the Chairman, will step in as the interim CEO, while Eren Ozmen will assume the role of president.
A spokesperson from Sierra Space stated, “After three and a half years in the role, Tom Vice has retired as Sierra Space CEO as of the end of 2024 — we thank him for his leadership and wish him well in his retirement.”
Sierra Space, which emerged from aerospace contractor Sierra Nevada Corporation (SNC) in 2021, is among the most valuable private U.S. companies in the growing space industry, valued at over $5 billion. However, the company has faced challenges in launching its reusable cargo space plane, Dream Chaser, crucial for establishing itself as a major industry player.
Vice was appointed as CEO of Sierra Space in 2021, shortly after the Ozmen family, owners of SNC, spun out the company. Investors such as General Atlantic, Coatue, BlackRock, and AE Industrial Partners were involved in the spin-off. Previously, Vice served as the CEO of Aerion Supersonic, a startup focused on developing high-speed business jets, which ceased operations in April 2021.
The initial Dream Chaser vehicle was scheduled to debut by 2021, but by 2024, the space plane, named Tenacity, was not prepared for launch when the United Launch Alliance’s Vulcan rocket was set to take off.
Dream Chaser has secured contracts from NASA for seven cargo missions to and from the International Space Station. Sierra Space has announced that Tenacity aims for a launch no earlier than May.
The company has been working on advancing its inflatable space station technology and expanding its product line to include satellite buses following a significant $740 million Pentagon contract win last year.
During Vice’s tenure, Sierra Space experienced layoffs and turnover in several senior executive positions. However, in 2024, Vice frequently discussed the company’s intention to go public, outlining a potential path to an IPO as early as late 2025.
