In a significant strategic move, the French launch vehicle startup Latitude appointed Aurélie Bressollette as its new Chief Executive Officer (CEO) on November 5, 2024. This change comes as the company prepares for its inaugural launch of the Zephyr—a small launch vehicle designed to carry payloads up to 200 kilograms into low Earth orbit. Bressollette takes over the role from Stanislas Maximin, who co-founded Latitude and now transitions to the position of Executive Chairman.
The New Leadership Direction
Aurélie Bressollette's impressive credentials make her a valuable addition to Latitude. Before her appointment, she served as Vice President of the Procurement Office at Rivada Space Networks, a telecommunications company focused on satellite systems. Her previous work experience includes roles at Redwire, a space infrastructure company, OHB System, and Airbus, where she honed her skills in procurement and strategic planning.
Stanislas Maximin underscores the importance of Bressollette's leadership abilities, noting that her experience is crucial as Latitude shifts gears from its developmental phase to a focus on industrialization. “As a founder, you’ve got to fire yourself from multiple jobs as you build the company,” he explained. Maximin emphasized the need to delegate and manage responsibilities effectively to align with the company's growth trajectory.
Operational Shifts for Growth
Maximin has been balancing dual roles as CEO and the company’s strategist and fundraiser. He advised that the dual responsibilities were becoming unsustainable: “The two jobs were literally full-time jobs. I had the choice between not doing both jobs correctly or finding the right person for one of the jobs.” After a nine-month evaluation period, Maximin and the board concluded that hiring a chief executive was crucial for Latitude's sustained growth.
Bressollette admitted that her initial interest in becoming a CEO had not been planned but emerged organically through discussions with Maximin, revealing her alignment with Latitude’s mission. “I don't believe that, in the very beginning, my contributions would have been the best. But now, as we are moving into the industrialization phase, we have to structure the program while avoiding overburdened processes,” she mentioned.
Company Milestones and Future Plans
Latitude, with a workforce of around 140 employees based in Reims, France, is currently engaged in the production of its first Zephyr rocket. This week marks a significant milestone, as the company is set to receive the initial flight hardware for the system. Maximin noted that the first phase of engine hotfire testing is scheduled for late this year, with an eye toward the inaugural orbital launch planned for the end of 2025.
Bressollette’s goal is to ensure that Latitude transitions smoothly into the production stage of the Zephyr. “We want to maintain that schedule. Our focus is now to integrate production while allowing engineering efforts to continue without interference,” she stated emphatically.
“We really want to take that step now and not have just engineers on one side and production on the other side.” – Aurélie Bressollette
Funding Strategy and Fiscal Management
In his new executive chairman role, Maximin will concentrate on fundraising efforts. He highlighted that Latitude raised $30 million in a Series B funding round earlier this year and that the company is cautious about accelerating its growth. “We are trying to stay scrappy,” he explained. “Our goal is to have enough funding to support the inaugural launch, and we are not rushing the production process. The first flight will be a significant test flight, a learning opportunity for us.”
Market Position and Competitive Landscape
As the competitive landscape for small satellite launch vehicles evolves, Bressollette and Maximin are aware of the challenges Latitude faces. The space industry is experiencing rapid growth; therefore, establishing a robust operational structure is vital for meeting market demand and expectations. The startup’s strategy of blending high expertise in suppliers and focusing on essential production capabilities positions them strategically in the crowded market, comprising numerous emerging competitors.
Conclusion: The Future of Latitude in Space Launch
With Bressollette’s leadership and Maximin’s continued oversight on strategy and fundraising, Latitude is poised to navigate the complexities of the growing small launch vehicle sector effectively. The company’s dedication to maintaining its schedule for the Zephyr's launch, coupled with its emphasis on sensible production and development processes, will be critical in ensuring its place as a key player in the aerospace industry.