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 off 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 high-speed business jets that ceased operations in April 2021.
The debut of the first Dream Chaser vehicle was initially planned for 2021. However, by 2024, the space plane, named Tenacity, was not prepared for launch when United Launch Alliance’s Vulcan rocket, its transportation to space, was scheduled for liftoff.
Dream Chaser has secured contracts from NASA for seven cargo missions to and from the International Space Station. Sierra Space indicated that Tenacity aims for a launch no earlier than May.
The company has been advancing its inflatable space station technology and diversifying into a range of 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. Nonetheless, in 2024, Vice frequently discussed Sierra Space’s intention to go public, outlining a potential path to an IPO as early as late 2025.
