Peter Krauss Appointed as Chief Operating
Officer
Adarsh Parekh Appointed as Chief Financial
Officer
Mathieu Riffel Appointed as Chief Accounting
Officer
Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the
“Company”), a global leader in satellite-based solutions serving
the aerospace, defense, intelligence, and commercial industries,
today announced key appointments to its executive team aimed at
accelerating the Company's path to driving revenue growth and
becoming free cash flow positive.
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Terran Orbital welcomes Peter Krauss as
its new Chief Operating Officer (COO). (Photo: Terran Orbital)
The Company welcomes Peter Krauss as its new Chief Operating
Officer (COO), Adarsh Parekh as its new Chief Financial Officer
(CFO), and Mathieu Riffel as its Chief Accounting Officer (CAO).
The appointment of Mr. Krauss is effective as of June 1, 2024, and
the appointments of Mr. Parekh and Mr. Riffel are effective as of
June 17, 2024.
Mr. Krauss and Mr. Parekh will each report to Marc Bell, the
Company’s Co-Founder, Chairman, and Chief Executive Officer. Upon
the effectiveness of Mr. Parekh and Mr. Krauss's appointments,
respectively, Mr. Riffel will report to Mr. Parekh. Mr. Krauss will
oversee all engineering, manufacturing, supply chain, business
development, and marketing functions, as well as our international
operations. Mr. Parekh will oversee all accounting, finance, and
investor relations functions.
Tony Gingiss, the Company’s current Chief Operating Officer, has
decided to leave Terran Orbital. This decision comes from a place
of mutual respect and understanding. As such, to facilitate a
smooth and orderly transition of his responsibilities, Mr. Gingiss
has agreed to provide strategic advisory services to the Company
until his departure on July 15, 2024. The Company is incredibly
grateful for his leadership and contributions over the past year
and wishes him all the best in his future endeavors.
“We are excited to welcome Peter Krauss and Adarsh Parekh to the
Terran Orbital Family and to promote Mathieu Riffel. All three
executives have proven track records in operational efficiency,
financial discipline, and growth acceleration,” said Bell. “Their
leadership will be instrumental in our strategy to streamline our
operations, optimize financial performance, and drive profitable
revenue growth. This strategic strengthening of our leadership team
reinforces our commitment to delivering value to our
shareholders.”
As COO, Peter Krauss will focus on enhancing operational
efficiency and reducing costs across Terran Orbital’s manufacturing
and production processes. Mr. Krauss is a seasoned Sales,
Marketing, and Operational executive with nearly 30 years of
experience driving organizational growth and profitability, as well
as extensive expertise in building and managing complex, global
manufacturing and distribution systems in countries such as the
USA, Germany, UK, Mexico, Hungary, Singapore, Hong Kong, and
Taiwan. Mr. Krauss brings a wealth of expertise in cost reduction,
process optimization, and efficiency improvement. Mr. Krauss has
extensive M&A expertise and a record of accretive transactions.
As a proven operator, Mr. Krauss excels in team building, mentoring
and effective communication with a focus on creating an ideal work
culture focused on results. As a problem solver and change agent,
Mr. Krauss is adept at enhancing customer and team member
experiences while driving efficient, effective, scalable operations
and significant financial performance.
Adarsh Parekh joins Terran Orbital as CFO, bringing over 20
years and $2.5 billion of transaction experience in the financial
sector, including in strategic growth initiatives, strategic
planning and implementation, FP&A, M&A, leveraged finance,
capital markets transactions, and treasury management. Prior to
joining Terran Orbital, Mr. Parekh served as Chief Financial
Officer of Alio, Inc., a medical technology company, where he
oversaw all finance and accounting functions and was a key
contributor to the company’s initial commercialization efforts. Mr.
Parekh has also served as CFO of Woodspur Farms, a vertically
integrated specialty agricultural company, where he was responsible
for the integration of four separate acquisitions and multiple
organizational establishment initiatives.
As CAO, Mathieu Riffel will focus on the Company’s accounting,
financial reporting, internal controls, and compliance processes.
Mathieu Riffel has worked for the Company since 2021, most recently
serving as Acting Chief Financial Officer. Mr. Riffel will continue
to serve as the Company's Principal Accounting Officer. His deep
commitment to accuracy and attention to detail will ensure
continued financial transparency.
“Peter Krauss, Adarsh Parekh, and Mathieu Riffel are the right
leaders at the right time for Terran Orbital,” Bell added. “Their
combined expertise and focus on profitability will be a driving
force as we position Terran Orbital to compete for speed in
responsive space and the proliferated mega constellations expected
from government and commercial customers in the years ahead. We are
confident that they will help us achieve our financial goals and
deliver long-term value to our stakeholders through this exciting
period of growth.”
About Terran Orbital
Terran Orbital is a leading manufacturer of satellite products
primarily serving the aerospace and defense industries. Terran
Orbital provides end-to-end satellite solutions by combining
satellite design, production, launch planning, mission operations,
and on-orbit support to meet the needs of the most demanding
military, civil, and commercial customers. Learn more at
www.terranorbital.com.
Forward-Looking Statements
This press release contains, and the Company’s officers and
representatives may from time to time make other public written and
verbal announcements that contain, “forward-looking statements” for
purposes of the federal securities laws. We intend such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities and Exchange Act of 1934, as amended. All statements,
other than statements of present or historical facts, contained in
this press release, regarding our expected future financial
results, our business strategy, ongoing strategic review, future
operations, results of operations and its impact on our
shareholders, our ability to execute, expectations regarding key
customer contracts, and expectations, plans and objectives of
management are forward-looking statements. Forward-looking
statements are typically identified by such words as “plan,”
“believe,” “expect,” “anticipate,” “intend,” “outlook, “estimate,”
“forecast,” “project,” “continue,” “could,” “may,” “might,”
“possible,” “potential,” “predict,” “will,” “should,” “would” and
“could” and other similar words and expressions, but the absence of
these words does not mean that a statement is not forward-looking.
These forward-looking statements involve a number of risks,
uncertainties (many of which are beyond our control), or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by the
forward-looking statements contained in this press release,
including, but not limited to: the statements made regarding the
ability to drive revenue growth and become free cash flow positive,
to streamline our operations, optimize our financial performance,
and drive profitable revenue growth and to achieve our financial
goals and deliver long-term value to our stakeholders; and the
other risks disclosed in our Annual Report on Form 10-K filed with
the SEC on April 1, 2024 and the prospectus supplement dated
September 18, 2023 related to our Registration Statement on Form
S-3, as amended (File No. 333-271093), which was declared effective
by the SEC on April 18, 2023.
These forward-looking statements are based on management’s
current expectations, plans, forecasts, assumptions, and beliefs
concerning future developments and their potential effects. There
can be no assurance that the future developments affecting us will
be those that we have anticipated, and we may not actually achieve
the plans, intentions or expectations disclosed in our
forward-looking statements, and you should not place undue reliance
on our forward-looking statements. New risk factors and
uncertainties may emerge from time to time, and it is not possible
to predict all risks, nor can we assess the impact of all factors
on our business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those contained in any forward-looking statements we may make. You
should read this press release with the understanding that our
actual future results may be materially different from the
expectations disclosed in the forward-looking statements we make.
All forward-looking statements we make are qualified in their
entirety by this cautionary statement. The forward-looking
statements contained in this press release are made as of the date
of this press release, and we do not assume any obligation to, and
we do not intend to, update any forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as required by law.
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Terran Orbital Media Contact: Public Relations
pr@terranorbital.com 949-508-6404
Terran Orbital (NYSE:LLAP)
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