Electra, Firefly hire new CEOs

Electra.aero

Marc Allen has joined the aerospace startup as chief executive amid its push to develop hybrid-electric aircraft of the short take-off and landing variety.

Electra.aero was founded in 2020 by John Langford, who continues to chair the company’s board of directors. Lockheed Martin Ventures, Honeywell, Safran, the Virginia Innovation Partnership Corporation and Statkraft Ventures are investors in Electra along with several other backers.

The company also touts a base of contracted government customers in NASA, the Air Force, Army and Navy.

Manassas, Virginia-headquartered Electra has received approximately $2.4 million in unclassified prime contract obligations over the trailing 12 months. The Army represents 89% of that spend with the Air Force and Navy making up the rest, according to USASpending.gov data.

Allen most recently worked as the chief strategy officer at Boeing for three years until his departure in December 2023 following a realignment of the company’s structure.

His career at Boeing also included leadership roles involving the airplane maker’s venture function, enterprise-wide functions and its international business.

Firefly Aerospace

Jason Kim will join the provider of launch, lunar and on-orbit services on Oct. 1 following four years as CEO of Boeing’s Millennium Space Systems subsidiary.

Boeing acquired Millennium in 2018 to gain a foothold in the small satellite market and bring in a business that focuses on alternative models for space access and business.

Millennium has since strung together a series of large bookings, such as a $414 million contract it announced in the spring to build an eight-satellite constellation for the Space Development Agency.

Kim’s career prior to Millennium/Boeing includes leadership positions at Raytheon and Northrop Grumman, plus service in the Air Force. He moves into a role that will have been vacant for approximately three months, following Payload Space’s reporting that Firefly was investigating its then-CEO at the time.

Austin, Texas-headquartered Firefly was formed in 2017 and employs approximately 700 people. Private equity firm AE Industrial Partners acquired Firefly in the summer of 2023.

The company has received approximately $46 million in unclassified prime contract obligations over the trailing 12 months with NASA representing 98% and the rest from the Defense Department, according to USASpending.gov data.