Three weeks ago we openly questioned the need for David Reis to step down as Stratasys CEO, following the poor results in the first quarter of 2016.
Today the company announced his exist from the helm of the company. The move has certainly been precipitated by the 30% decrease in the share price over the last weeks, and the mounting pressure from disgruntled shareholders. David Reis will step down form his position as the Chief Executive Officier, effective June 30, 2016
Effective July 1, Ilan Levin, a member of the Board and Executive Committee of Stratasys, will assume the role of CEO.
Mr. Levin has served as a member of the Board of Directors of Objet since 2000 and served as President and Vice Chairman of the Objet Board prior to the Stratasys-Objet merger in 2012. Mr. Jaglom remarked, “Speaking on behalf of the whole Board, we are confident that Ilan’s understanding of the company’s business and strategy will enable him to build upon Stratasys’ market position, foster a smooth transition and successfully advance the company’s strategic vision.”
Mr. Levin said, “I am honored to be taking on the role as CEO and to continue working with the global Stratasys team to advance our company’s goals and values.”
This news will certainly be followed by interesting changes in Stratasys’s strategy. There are currently significant challenges for the company:
- Will Makerbot close down?
- How Stratasys will compete with HP new 3D Printer?
- Will new leading investors push for the sale of the company ?
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