Firefly co-founder Markusic to step down as CEO

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Firefly co-founder Markusic to step down as CEO
by Jeff Foust — June 16, 2022

https://spacenews.com/firefly-co-founder-markusic-to-step-down-as-ceo/

PASADENA, Calif. — Firefly Aerospace announced June 15 that Tom Markusic, co-founder of the launch vehicle and spacecraft developer, will step down as its chief executive but remain with the company as it prepares for its second launch.

The company said that Markusic would shift from chief executive to a new role of chief technical advisor, effective June 16. He will remain a member of the company’s board and a “significant minority investor” in the company.

The move comes four months after AE Industrial Partners (AEI), a private equity firm, agreed to acquire a “significant stake” in Firefly from Noosphere Venture Partners, which sold its interest in Firefly at the request of the Committee on Foreign Investment in the United States. Noopshere is a fund run by Ukrainian-born investor Max Polyakov. In March, AEI said it was leading Firefly’s $75 million Series B round.

The statement suggested that Firefly’s new owners wanted new leadership for the company as it prepares a second launch of its Alpha rocket. That launch is expected no earlier than mid-July from Vandenberg Space Force Base, nearly a year after the first Alpha launch failed.

Firefly is also working on an orbital transfer vehicle and its Blue Ghost lunar lander, which will fly a mission for NASA’s Commercial Lunar Payload Services program in 2024. Firefly has started design work on a larger launch vehicle, Beta, whose first launch would be around the middle of the decade.

“With new ownership and funding, Firefly has been reinvigorated. The company is entering a new phase of growth,” Kirk Konert, partner at AEI, said in the statement. “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.”

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Firefly Aerospace Names Bill Weber as CEO
Experienced A&D Executive to Lead Firefly’s Next Phase of Expansive Growth

https://firefly.com/news/firefly-aerospace-names-bill-weber-as-ceo/

Cedar Park, TX, September 1, 2022 – Firefly Aerospace (“Firefly” or “Company”), an emerging leader in economical launch vehicles, spacecraft, and in-space services, announced today that long-time aerospace and defense executive, Bill Weber, has been named the Company’s CEO, effective immediately. Firefly is a portfolio company of AE Industrial Partners (“AEI”), a U.S.-based private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets.

Mr. Weber previously served as President, CEO, and Director of KeyW Corporation (NASDAQ: KEYW), a leading provider of agile cyber operations and warfare, data analytics, and geospatial satellite payloads and sensors for U.S. government intelligence and defense customers, as well as the commercial sector. During his tenure, he led the Company through a multi-year transformation focusing on driving consistent growth, operational discipline, and divestitures and acquisitions, culminating in the sale of KeyW to Jacobs Engineering Group (NYSE: J).

“Bill is a proven leader with an impressive record of helping companies successfully navigate change, making him the clear choice to lead Firefly during this transitional growth period,” said Peter Schumacher, Partner at AE Industrial Partners, who served as interim CEO of the Company. “His deep experience and strong relationships across many areas of the A&D landscape will be invaluable as Firefly transitions to full-rate production across its portfolio of products. On behalf of the Firefly and AEI teams, I welcome him to the Company.”

Mr. Weber most recently founded First Light Acquisition Group as Chief Executive Officer and Chairman, a company focused on investing in technology-enabled solutions with mission-critical applications. Prior to KeyW, Mr. Weber served as President and Chief Operating Officer of XLA, a privately-held national security and diplomacy technology firm. He previously was President of Kaseman, a technology services firm providing foreign policy assistance to the U.S. government, and has spent the balance of his career in leadership positions in the technology sector serving the A&D community. A veteran U.S. Army Officer and an Airborne Ranger, Mr. Weber was awarded the Bronze Star for actions during Operation Desert Storm. He holds a Bachelor of Science degree from Washington University and is a graduate of The Executive Program at the University of Virginia Darden School of Business. He currently serves on the boards of Modus eDiscovery, Buchanan Edwards, and America’s Warrior Partnership.

“This is a once in a lifetime opportunity to lead a company on the forefront of critical, leading-edge space transportation solutions, and I am honored to join the talented Firefly team,” said Mr. Weber. “I respect and admire Firefly’s innovative corporate culture, which has led to its success, and I know that Firefly is poised to achieve great things. I look forward to collaborating with the Firefly and AEI teams at this critical juncture in the Company’s development.”

“We’re confident that Firefly will transform the space industry with its game-changing technologies, and Bill’s successful track record delivering new technologies for space and defense companies will help to accelerate the Company’s vision and market leadership,” said Kirk Konert, Chairman of Firefly and Partner at AEI. “As a former public company CEO at KeyW, Bill is the perfect mix of space and defense technologist and is an accomplished executive respected by some of the world’s largest financial institutions. I am excited to work closely with him and the management team during the Company’s next stage of growth.”