Tom Vice, the CEO of private space technologies company Sierra Space, has left the company, according to a CNBC report. 

Vice held the position for three and a half years, overseeing the VC-backed company’s $290 million fundraise at a $5.3 billion valuation in 2023 and securement of a military satellite contract in early 2024. 

Despite some early successes, Sierra Space, a spinout from aerospace contractor Sierra Nevada Corporation, has yet to launch a first mission of its reusable cargo spaceplane, called Dream Chaser. Over the summer, delays caused Dream Chaser to be booted from the manifest for United Launch Alliance’s second Vulcan Centaur flight. 

During Vice’s tenure, Sierra Space saw layoffs and executive turnover. Vice last year teased Sierra Space’s plans to go public in late 2025, though it’s unclear if those plans will continue under new leadership.

The company’s chairman Faith Ozmen will serve as interim CEO.