Tom Vice, CEO of Sierra House, talks to workers in entrance of the corporate’s Dream Chaser house airplane on Oct. 30, 2023 in Louisville, Colorado.
Helen H. Richardson | Denver Submit | Getty Pictures
Sierra House CEO Tom Vice has left the corporate, CNBC confirmed Monday.
In an announcement, Sierra House mentioned Vice retired Dec. 31. Chairman Fatih Ozmen will function interim CEO, with Eren Ozmen as president.
“After three and half years within the function, Tom Vice has retired as Sierra House CEO as of the top of 2024 — we thank him for his management and need him effectively in his retirement,” a Sierra House spokesperson mentioned in an announcement.
Spun out of aerospace contractor Sierra Nevada Company, or SNC, in 2021, Sierra is likely one of the most precious personal U.S. corporations within the burgeoning house sector, most not too long ago valued at more than $5 billion. However Sierra House has struggled to launch the primary mission of its reusable cargo house airplane referred to as Dream Chaser, which is vital to the corporate establishing itself as a significant participant within the trade.
Vice was named CEO of Sierra House in 2021, a couple of months after SNC homeowners Fatih and Eren Ozmen spun out 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 high-speed enterprise jets and that shut down in April 2021.
The primary Dream Chaser automobile was presupposed to debut by 2021. However even in 2024, the house airplane, named Tenacity, was not prepared when United Launch Alliance’s Vulcan rocket, its experience to house, needed to launch.
Dream Chaser has gained NASA contracts to fly seven cargo missions to and from the Worldwide House Station. Sierra House mentioned Tenacity is concentrating on a launch no sooner than Could.
The corporate has continued to develop its inflatable space station technology, in addition to broaden right into a product line of satellite buses after profitable a high-profile $740 million Pentagon contract final 12 months.
Sierra Space saw layoffs throughout Vice’s tenure, in addition to turnover in quite a lot of senior govt roles. However in 2024, Vice spoke repeatedly of Sierra Space’s plan to go public, outlining a tentative path to IPO as quickly as late 2025.
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