Mynaric President Mustafa Veziroglu. Photo: Mynaric

Bulent Altan will step down as Mynaric’s co-CEO later this year, with Mustafa Veziroglu taking the helm of the company as its sole CEO. Mynaric said the decision announced Thursday will strengthen the company’s focus on executing production targets for its lasercom terminals, and allow Altan to advocate for the company across his network. 

The change will be effective from the company’s next annual general assembly in the third quarter, and Altan will join the company’s supervisory board, pending shareholder approval. 

Altan was one of SpaceX’s first engineers, and is a former senior executive at SpaceX. He has led Mynaric as CEO since March 2019. 

Veziroglu joined Mynaric in August 2022 as president, and became co-CEO alongside Altan in February this year. He has overseen the entire product lifecycle from development through delivery and oversaw deliveries of Hawk and Condor Mk2 laser terminal units. He previously served as the COO of SA Photonics, now a CACI company, which develops laser communications for space, airborne and terrestrial environments. 

“With major milestones in testing and product development work completed in the last months, Mynaric is now at the start of a shift toward serial production and Mustafa’s skills and experience align perfectly with Mynaric’s next phase of growth,” said Dr. Manfred Krischke, chairman of Mynaric’s supervisory board of Mynaric. “We thank Bulent for all his work as CEO and co-CEO of Mynaric leading the company’s transition from a prototype builder to the readiness for serial production and look forward to welcoming his vast experience, industry knowledge, policy insights and personal network to the supervisory board.”