Sierra Nevada Corporation Internal Memo: Mark Sirangelo: My Transition At SNC

Status Report From: SpaceRef Interactive, Inc.

Posted: Friday, June 29, 2018

Hi,



I wanted to let you know of decision that I have made. After reflecting on my commercial space journey over the past 17 years and after significant consideration I have concluded that it is time for me to make a change and end my executive role leading Sierra Nevada Corporation’s Space Systems. This decision is being made from a positive personal place and as a friendly transition from SNC with the knowledge that the SNC space business is stable and strong.



We began SNC’s Space Systems now almost 10 years ago when my former company SpaceDev was acquired by SNC. Since then with SNC leadership and our great team along with strong business partners, such as you, we have created some amazing memories and have changed the space world. Leading this team has truly been the highlight of my business life. Our journey, which started with our first big accomplishment of winning the first X-Prize, has taken us beyond Pluto and to the Sun and on hundreds of space missions. We were a founding entity of the new commercial space industry and are now seen as one of its most successful leaders. We launched the industry’s first small satellites, are building the next generation spaceship, space station and rocket motors while helping NASA to learn how to grow food and survive in space.



I understand this change may be perceived as challenging but I wanted you to know that the state of our business is very good with strong leadership behind it. As a result of remarkable internal growth, significant SNC investment and SNC’s acquisition of SpaceDev, MSI and ORBITEC, we are multiple times larger than when we launched Space Systems and now have a multi-billion dollar backlog. We have a strong and seasoned SSG management team that is supported by our Space Advisory Board and the corporate office who will continue to work with you. We have hired over 400 quality people in the past year and have recently brought our new state of the art operations facilities online. Our biggest program, Dream Chaser, is flying, has its first ISS mission and we are an active participant in NASA’s future Gateway plans. The brand of SNC Space is now global and at an all-time high.



Finally, as many of you have seen, the Ozmens, who I respect greatly, are completely and positively committed to the SNC space business. They and I are in a good place and supportive of each other as we move forward. We have been working an internal transition for a number of weeks, and my last day as Executive Vice President will be June 30 when SNC’s CEO, Fatih Ozmen, will assume this EVP role until further notice. However, I am going to continue to work with our SNC leadership on an orderly and positive transition through the end of July. This will provide SNC time to organize for the future while allowing for proper internal and external hand-offs. Further, the Ozmens and I have agreed that I will continue to support SNC in a strategic advisory capacity for some time after my employment departure.



We have reached amazing heights together and I have enjoyed our relationship. I wish you all the best for the future. You can always reach me at the email and telephone below.



Take care,



Mark





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