Photo credit: NASA

One of Blue Canyon Technologies co-founders, longtime CTO Stephen Steg will become the company’s CEO, the company announced Tuesday. Steg has been CTO since the company was founded in 2008, and he has overseen the development of BCT’s spacecraft and component designs. 

BCT is making changes to its executive team, a few months after it became a subsidiary of Raytheon Technologies. Current CEO George Stafford and COO Matthew Beckner are both moving into advisory roles. 

In addition, Steve Schneider, who is currently executive director of Manufacturing, Test and Components, will move into the COO role. And Matt Baumgart, executive director of Research & Development will step into Steg’s previous position of CTO. 

“Blue Canyon is primed for growth and marketplace opportunity in the small-satellite systems sector of the new space economy,” Steg said. “With a strong senior management team at my side and the resources, synergies and talents provided to us by the backing of Raytheon Technologies, I look forward to guiding Blue Canyon into its next phase as an industry leader during these exciting and competitive times for the business.”