{"id":938796,"date":"2026-02-23T06:03:26","date_gmt":"2026-02-23T11:03:26","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/starfighters-space-founder-rick-svetkoff-steps-down-after-listing-on-nyse-tim-franta-appointed-as-ceo\/"},"modified":"2026-02-23T06:03:26","modified_gmt":"2026-02-23T11:03:26","slug":"starfighters-space-founder-rick-svetkoff-steps-down-after-listing-on-nyse-tim-franta-appointed-as-ceo","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/starfighters-space-founder-rick-svetkoff-steps-down-after-listing-on-nyse-tim-franta-appointed-as-ceo\/","title":{"rendered":"Starfighters Space Founder Rick Svetkoff Steps Down after Listing on NYSE; Tim Franta Appointed as CEO"},"content":{"rendered":"

<\/p>\n

Starfighters Space Founder Rick Svetkoff Steps Down after Listing on NYSE; Tim Franta Appointed as CEO<\/b><\/p>\n

CAPE CANAVERAL, Fla.–(BUSINESS WIRE<\/a>)–
\nStarfighters Space (\u201cStarfighters\u201d or the \u201cCompany\u201d) (NYSE American: FJET), the innovative aerospace company, owner and operator of the world\u2019s largest fleet of commercial supersonic aircraft, announced today that Company founder Rick Svetkoff, 72, has resigned as Chief Executive Officer, President, Chairman and Director. Mr. Svetkoff\u2019s spouse, Brenda Svetkoff, has also resigned as Company secretary. The board of directors of the Company has appointed Tim Franta as Chief Executive Officer.<\/p>\n

\nMr. Svetkoff has had a distinguished career. After college, Svetkoff joined the U.S. Navy in 1978 and flew the venerable A-4 fighter jets. Svetkoff left the Navy in 1984 and began a new career as a Continental Airlines pilot, prior to founding Starfighters in 1996. On behalf of the remaining board and management, the Company thanks the Svetkoff\u2019s for their visionary leadership and efforts in progressing Starfighters to its current stage of development and wishes them success in their future endeavors.<\/p>\n

\n\u201cRick built Starfighters from the ground up. As we move into the commercialization era of our business, we are grateful for the strong foundation, both operationally and financially, he has left us,\u201d said Tim Franta, Chief Executive Officer.<\/p>\n

\nTim Franta has served as Starfighters\u2019 Vice President of Development since October 18, 2022. He is leading development of the STARLAUNCH air-launch system intended to fly rockets capable of delivering payloads to space. Before Starfighters, he was Energy Florida\u2019s Deputy Director in Cape Canaveral (October 2018 to September 2022) and previously Director of Special Projects (2012 to October 2018). His work focused on space and energy business development, translating financial and technical requirements into fundable business plans and aligning public policy with private and government financing. Earlier, he worked for the Florida Legislature and served as Chief of Staff for the Florida Space Authority, where he helped draft space transportation legislation, oversaw FAA licensing of two launch pads, and supported more than $300 million in space and ground infrastructure funding. He also authored the Florida Space Transportation Act.<\/p>\n

\n\u201cI’ve worked with Tim for more than 20 years on commercializing space. It is very fitting that he now leads a company that aims to continue that development. I congratulate him on his new role and look forward to seeing to what heights he can take Starfighters,\u201d said Bill Posey, former congressman (2009\u20132025) who represented Florida\u2019s Space Coast.<\/p>\n

About Starfighters Space, Inc.<\/b><\/p>\n

\nStarfighters Space, Inc. is the only commercial company in the world with the ability to fly payloads at sustained MACH 2+ and with the capability to launch those payloads to space. Starfighters Space is an organization committed to participating in high-demand commercial space activities. Located at the NASA Kennedy Space Center in Florida, the Company operates a growing fleet of modified supersonic aircraft operationally configurable to act as the first stage lifting platform to carry payloads up to 45,000 feet for air launch to space. Additional activities include support research, pilot training, space flight training, and advanced scientific efforts including hypersonic testing as part of air launch partner development programs. Starfighters Space is working to position its capability to become the most cost-effective launch provider in the sector.<\/p>\n

\nFor more information about Starfighters Space, Inc. please visit: https:\/\/starfightersspace.com\/<\/a>.<\/p>\n

FORWARD-LOOKING STATEMENTS<\/b>:<\/p>\n

Except for the statements of historical fact contained herein, the information presented in this news release constitutes \u201cforward-looking statements\u201d as such term is used in applicable United States securities laws. These statements relate to analysis and other information that are based on forecasts or future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as \u201cexpects\u201d, or \u201cdoes not expect\u201d, \u201cis expected\u201d, \u201canticipates\u201d or \u201cdoes not anticipate\u201d, \u201cplans\u201d, \u201cestimates\u201d or \u201cintends\u201d, or stating that certain actions, events or results \u201cmay\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d or \u201cwill\u201d be taken, occur or be achieved) are not statements of historical fact and should be viewed as \u201cforward-looking statements\u201d. We have based these forward-looking statements on information currently available to the Company, assumptions the Company believes are reasonable and our current expectations about future events or performance. While we believe these expectations are reasonable, such forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond our control. Our actual future results may differ materially from those discussed or implied in our forward-looking statements for various reasons. Factors that could contribute to such differences include, but are not limited to, the ability to obtain the necessary permits and approvals to operate, the Company\u2019s ability to develop new products and\/or services, the approval of the Company\u2019s application for a launch license and the timing thereof, the Company\u2019s expansion to Midland, Texas, the adoption by the market of the Company\u2019s method of satellite deployment, the Company\u2019s continued business arrangements, market trends and competition in the Company\u2019s industry, the future diversification of the Company\u2019s revenue streams and the assumptions underlying any of the foregoing, and other factors discussed in the Company\u2019s filings with the Commission. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effect on, the Company. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. The forward-looking statements contained in this news release are made only as of the date hereof. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of any offer to buy the Company\u2019s securities.<\/i><\/p>\n

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View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260223257601\/en\/<\/a><\/span><\/p>\n

Media
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StarfightersSpace@icrinc.com<\/a><\/p>\n

Investors
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<\/b>investors@starfightersspace.com<\/a><\/p>\n

KEYWORDS:<\/b> Florida United States North America Canada<\/p>\n

INDUSTRY KEYWORDS:<\/b> Other Transport Aerospace Manufacturing Air Transport<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Starfighters Space Founder Rick Svetkoff Steps Down after Listing on NYSE; Tim Franta Appointed as CEO CAPE CANAVERAL, Fla.–(BUSINESS WIRE)– Starfighters Space (\u201cStarfighters\u201d or the \u201cCompany\u201d) (NYSE American: FJET), the innovative aerospace company, owner and operator of the world\u2019s largest fleet of commercial supersonic aircraft, announced today that Company founder Rick Svetkoff, 72, has resigned as Chief Executive Officer, President, Chairman and Director. Mr. Svetkoff\u2019s spouse, Brenda Svetkoff, has also resigned as Company secretary. The board of directors of the Company has appointed Tim Franta as Chief Executive Officer. Mr. Svetkoff has had a distinguished career. After college, Svetkoff joined the U.S. Navy in 1978 and flew the venerable A-4 fighter jets. Svetkoff left the Navy in 1984 and began … <\/p>\n

Continue reading “Starfighters Space Founder Rick Svetkoff Steps Down after Listing on NYSE; Tim Franta Appointed as CEO”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-938796","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nStarfighters Space Founder Rick Svetkoff Steps Down after Listing on NYSE; Tim Franta Appointed as CEO - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/starfighters-space-founder-rick-svetkoff-steps-down-after-listing-on-nyse-tim-franta-appointed-as-ceo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starfighters Space Founder Rick Svetkoff Steps Down after Listing on NYSE; Tim Franta Appointed as CEO - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Starfighters Space Founder Rick Svetkoff Steps Down after Listing on NYSE; Tim Franta Appointed as CEO CAPE CANAVERAL, Fla.–(BUSINESS WIRE)– Starfighters Space (\u201cStarfighters\u201d or the \u201cCompany\u201d) (NYSE American: FJET), the innovative aerospace company, owner and operator of the world\u2019s largest fleet of commercial supersonic aircraft, announced today that Company founder Rick Svetkoff, 72, has resigned as Chief Executive Officer, President, Chairman and Director. Mr. Svetkoff\u2019s spouse, Brenda Svetkoff, has also resigned as Company secretary. The board of directors of the Company has appointed Tim Franta as Chief Executive Officer. Mr. Svetkoff has had a distinguished career. After college, Svetkoff joined the U.S. Navy in 1978 and flew the venerable A-4 fighter jets. 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