Two key appointments have been announced to the Terran Orbital executive team aimed at accelerating the Company's path to driving revenue growth and becoming free cash flow positive.
“We are excited to welcome Peter Krauss and Adarsh Parekh to the Terran Orbital Family and to promote Mathieu Riffel."
Marc Bell, 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.”