Sierra Space CEO Tom Vice leaves the company | Wilnesh News

CNBC confirmed on Monday that Sierra Space CEO Tom Vice has left the company.

Vice retired on Dec. 31, Sierra Space said in a statement.

A spokesperson for Sierra Space said in a statement: “Tom Vice has retired as CEO of Sierra Space at the end of 2024 after three and a half years in the role. We thank him for his leadership and wish him the best in his retirement. “

Sierra, which was spun off from aerospace contractor Sierra Nevada Corporation (SNC) in 2021, is one of the most valuable U.S. private companies in the emerging aerospace sector, recently valued at more than $5 billion. But Sierra Aerospace has been struggling to launch the first mission of its reusable cargo space plane called Dream Chaser, which is critical to the company’s emergence as a major player in the industry.

Vice was named CEO of Sierra Space in 2021, months after SNC owners Fatih and Eren Ozmen spun out the company from investors including General Atlantic, Coatue, BlackRock and AE Industrial Partners. Vice previously served as CEO of Aerion Supersonic, a startup planning to build high-speed business jets that closed in April 2021.

The first “Dream Chaser” aircraft was originally scheduled to debut in 2021. The space shuttle is not ready yet.

Dream Chaser won a contract from NASA to fly seven cargo missions to and from the International Space Station. Sierra Space said Tenacity aims to launch no earlier than May.

After winning a high-profile $740 million Pentagon contract last year, the company continued to develop its inflatable space station technology and expanded into a satellite bus product line.

During Vice’s tenure, Sierra Space has made layoffs and some top management positions have changed. But in 2024, Vice repeatedly talked about Sierra Space’s plans to go public and outlined a tentative path to an IPO as early as the end of 2025.