Firefly Aerospace announces CEO transition
On June 15, Cedar Park, TX-based Firefly Aerospace announced that CEO and co-founder Tom Markusic will transition from CEO to full-time board member and chief technical advisor to Firefly effective June 16, and remains a significant minority investor in the Company. Peter Schumacher, Partner at AE Industrial Partners (“AEI”), will take over CEO responsibilities in the interim, as a search for a successor is underway.
“I’m proud of the company I co-founded and built, and confident that Firefly is well positioned to seize upon the tremendous opportunities and investment in the space industry today,” said Markusic. “The future for Firefly is bright, and the time is right for a new leader with the necessary skills to lead the company into its next stage of growth and development.”
In March, Firefly received a $75 million Series B funding round led by AEI, a U.S-based private equity firm specializing in aerospace, defense and government services, space, power and utility services, and specialty industrial markets. The financing is providing capital for Firefly’s growth, including future Alpha flights, the Blue Ghost Lunar Lander Program, and the development of additional launch and in-space solutions. AEI also completed its acquisition of a majority stake in the company in March.
“Tom has worked tirelessly over the last eight years to start and build Firefly into the innovative company it is today, and we thank him for his vision and leadership,” said Kirk Konert, partner at AEI. “With new ownership and funding, Firefly has been reinvigorated. The company is entering a new phase of growth, highlighted by the upcoming second launch of Alpha, Firefly’s flagship launch vehicle, this summer. We are confident that we will soon find the right person to build upon this momentum and collaborate with the talented Firefly team to help the company continue its success.”
Source: Firefly Aerospace
Keep up with your competitors by following notable executive moves across the IC contracting space — become a paid subscriber to IC News.