WASHINGTON — Blue Canyon Technologies has promoted one of its co-founders to chief executive to lead the next phase of growth of the Raytheon-owned smallsat manufacturer.
Blue Canyon announced June 8 that Stephen Steg, who had been chief technical officer of the company since its 2008 founding, will take over as chief executive. He succeeds George Stafford, who will remain with the company in an advisory capacity.
Blue Canyon is a leading manufacturer of cubesats and other small satellites for commercial and government customers. Raytheon Technologies acquired the company in December 2020 and operates it as a wholly owned subsidiary within its Raytheon Intelligence & Space business unit.
“Steve Steg brings the ideal combination of leadership, experience and vision as the new Blue Canyon CEO for this next chapter in the evolution and growth of the company,” Roy Azevedo, president of Raytheon Intelligence & Space, said in a statement. “His expertise in the business of small-satellite systems and technologies will be invaluable to the broad range of solutions we offer to support our customer’s space missions.”
Colorado-based Blue Canyon is one of the companies involved in DARPA’s Blackjack program to test the utility of smallsat constellations. The company won an order for four contracts in June 2020, and DARPA exercised an option in February for six more. The company won a contract from the University of Illinois May 12 to build two six-unit cubesats for a space science mission funded by the National Science Foundation.
“Blue Canyon is primed for growth and marketplace opportunity in the small-satellite systems sector of the new space economy,” Steg said in the statement. “I look forward to guiding Blue Canyon into its next phase as an industry leader during these exciting and competitive times for the business.”
Steg’s appointment as CEO is part of a series of senior management changes at the company. Matthew Beckner, chief operating officer and another company co-founder, is moving into a new senior advisory position for continuous improvement. Steve Schneider, executive director of manufacturing, test and components, will take over as chief operating officer. Matt Baumgart, previously executive director for research and development, will succeed Steg as chief technical officer.
Matt Magaña, named as president of Blue Canyon Technologies in December after Raytheon acquired the company, is also part of its senior leadership team.