Update: More information from Axiom Space has been added to this story.
The CEO of the Houston-based company aiming to replace the International Space Station has stepped down.
Axiom Space co-founder Michael Suffredini said Aug. 6 that he was stepping down from the CEO role and transitioning to become a member of the company’s board of directors. The move will take effect Aug. 9. Axiom Space said it was focusing on ensuring a smooth leadership transition and did not have anything further to offer on the search as of press time.
In a press release, Suffredini said personal reasons motivated him to depart the CEO role.
“I have dedicated over 40 years to advancing humanity through human spaceflight, including the past eight-plus years alongside Dr. Kam Ghaffarian at Axiom Space,” Suffredini said.
Suffredini’s co-founder, Kamal Ghaffarian, will serve as interim CEO in addition to his current role as chair of Axiom Space’s board of directors. Ghaffarian, who is also based in Houston, has also co-founded several other companies, including Houston-based Intuitive Machines Inc. (Nasdaq: LUNR), where he also serves as chair of the board.
Ghaffarian will retain his position of executive chairman, and the interim post will not affect his board positions elsewhere, Axiom Space confirmed.
"Dr. Ghaffarian has always been heavily involved in the operations of the companies he has co-founded; serving as executive chairman, he provides strategic oversight and support," the company said in a statement to the HBJ.
“We are grateful for Mike's invaluable contributions to human space exploration and the remarkable growth of Axiom Space,” Ghaffarian said. “He will continue to offer his unique perspective and expertise as we advance our mission. I am confident in our team's ability to navigate this transition smoothly and maintain the high standards that define Axiom Space for our employees, customers, stakeholders, and partners worldwide.”
Suffredini and Ghaffarian co-founded Axiom Space in 2016, a year after Suffredini concluded his three-decade career at NASA. His most recent role at the agency was serving as International Space Station program manager at Johnson Space Center from 2005 to 2015. While in that role, he helped launch the ISS in its current capacity.
The space station is scheduled for retirement by 2031, and Axiom Space is developing a free-flying commercial station known as Axiom Station to replace it. The first module is set to be launched in 2026, and Axiom Station is slated to be completely free of the ISS before 2031. The station will be assembled at Axiom Space's new facility at the Houston Spaceport.
To prepare, the company has launched three missions in partnership with SpaceX, with a fourth on the way. These missions have included private crews ranging from former NASA astronauts and entrepreneurs to astronauts from European countries and Saudi Arabia.
Suffredini also oversaw Axiom Space raising significant funding, enough to push it past the $1 billion valuation threshold designating it a unicorn company. The latest funding round was announced in 2023, when South Korea-based Boryung Ltd. and Saudi Arabia-based Aljazira Capital led a $350 million Series C round.
Axiom Space CFO Mike Lungariello, who joined the company near the end of 2023, said the round showcased Axiom Space’s attractiveness to both international space agencies awaiting the next step after the ISS and industry giants looking into how low-Earth orbit can benefit research and manufacturing.
Suffredini predicted last year that the Houston area will see an “explosion of opportunity” due to developments in low-Earth orbit for commercial purposes.
"The local economy is affected significantly because not only will there be jobs, but the amount of research and manufacturing that will take place over time will start to focus around the Houston area as well," Suffredini said in a press conference prior to Axiom Mission 2. "There's a lot of testing and demonstration you have to do before you fly a system or [produce] a product, whatever that product might be."
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