Shield AI names former Splunk CEO as new chief executive

The Shield AI logo is seen during defense industry exhibition in Kielce, Poland on September 3, 2024. (Photo by Jakub Porzycki/NurPhoto via Getty Images)

WASHINGTON — Shield AI has named former Splunk CEO Gary Steele as its new chief executive, with the autonomy firm’s co-founder Ryan Tseng stepping down and transitioning to the role of president.

Steele, currently Cisco’s president for go-to-market, will take the reins at Shield AI on join its board of directors on May 13, the company announced today.

With Tseng at the helm, Shield AI has grown from a small San Diego-based start up to one of the Pentagon’s so-called “defense tech unicorns,” the name given to nontraditional defense firms that have received Silicon Valley backing and a stream of Defense Department contracts. Tseng founded Shield AI in 2015 with his brother Brandon, a former Navy SEAL who is currently the company’s president.

“Among my most important responsibilities has always been ensuring Shield AI is led by the absolute best person for the role,” Ryan Tseng said in a news release. “Over the past year, with the demand for autonomy solutions at scale and the growth of our aircraft business, it became unmistakably clear that Shield AI required a leader with not only deep software expertise but proven experience scaling technology organizations. Gary Steele is the best leader for the next chapter of our growth.”

Shield AI’s product list includes Hivemind, an artificial intelligence system that can pilot drones, and the V-Bat drone, which it produces in Dallas after acquiring original manufacturer Martin UAV in 2021. The company also contributed software that allowed the modified F-16 known as the X-62A VISTA to fly under AI control as part of DARPA’s Air Combat Evolution program.

Last week, Shield AI announced the completion of a $240 million F-1 strategic funding round, which raised the company’s valuation to $5.3 billion.

While a relative newcomer to the defense industry, Steele spent more than 30 years as a leader in the technology sector, leading Splunk before its acquisition by Cisco for $28 billion in 2024. He was previously CEO of cybersecurity firm Proofpoint, taking the company to its initial public offering.

“There is growing demand for advanced autonomy from defense industry leaders, and we also see an opportunity to expand beyond traditional defense applications to benefit larger commercial enterprises,” Steele said. “I am proud to join this team and help bring this tremendous opportunity to bear, in partnership with Ryan and Brandon.”