Formlabs announced major leadership changes and strategic board updates. The global 3D printing provider named former Apple executive Dan Riccio as a Strategic Advisor. Furthermore, Riccio is making a direct financial investment in Formlabs. Sitting board member Rob Willett is also increasing his investment stake.
Riccio previously led Apple’s Product Design and Hardware Engineering organizations for decades. He oversaw hardware development for the iPhone, iPad, and Mac platforms. In his new role, he will advise leadership on product design rigor. He will also guide operational scaling across industrial 3D printing sectors.
“Dan spent a career building some of the most beloved hardware products in the world, at an enormous scale, and he did it by obsessing over details most executives don’t care about,” said Maxim Lobovsky, co-founder and CEO of Formlabs. “As we scale Formlabs into the next generation of manufacturing hardware, learning from Dan is going to make our team stronger and our products better. We’re thrilled to have him as an advisor and as an investor in what we’re building.”
“Formlabs has quietly built one of the most complete hardware, software, and materials platforms I’ve seen outside of a handful of the world’s best consumer companies,” said Riccio. “The attention to detail in how these systems are engineered, and the ambition to make industrial-grade manufacturing accessible, is exactly the kind of problem I want to spend my time on. I’m excited to invest in that vision and to work with the team as they build it out.”
“I said when I joined the board that Formlabs was uniquely positioned to lead the next era of digital manufacturing,” said Willett. “Everything I’ve seen since has convinced me to lean in further.”
Leadership Restructuring and Governance Expansion
Alongside adding a Strategic Advisor, Formlabs reshuffled its executive board leadership structure. Co-founder and CEO Maxim Lobovsky assumed the role of Chairman of the Board. He succeeds co-founder Natan Linder, who steps down after fifteen years. However, Linder will continue serving Formlabs as a Strategic Advisor.
Meanwhile, Chief Product Officer Dávid Lakatos becomes President and joins the Board of Directors. Lakatos led product development for over a decade, shaping SLA and SLS hardware portfolios. Additionally, board member Nadia Shouraboura takes on the Lead Director position. Shouraboura formerly led Amazon’s worldwide supply chain and fulfillment operations.
“Natan joined me in founding this company, betting on the idea and betting on me before almost anyone else. He has contributed in many ways as a cofounder and board member and will continue to contribute as an advisor,” said Lobovsky. ”Dávid joined just a couple of years into the history of the company, and I think of him as a co-founder as well. He has been instrumental in building almost every aspect of the company across almost every product and development of our long-term strategy.”
Positioning for Global Manufacturing Growth
Formlabs operates as the largest professional 3D printing supplier founded in the 1980s. Headquartered in Somerville, Massachusetts, the firm generates over $250 million in annual revenue. Furthermore, global customers have printed over 500 million parts using Formlabs printers. Their hardware ecosystem includes SLA and SLS 3D printers, software, and materials.
These strategic governance appointments are closely followed by industry analysts. We have brought on a seasoned Strategic Advisor to elevate our technical product design. Meanwhile, the hiring of a seasoned Strategic Advisor accelerates the scaling of global operations. Formlabs is expanding access to digital manufacturing globally, with deep executive talent.
This is why having an industry-proven Strategic Advisor on board provides comfort to institutional investors and clients. Directly driving long-term manufacturing growth through tech hardware expertise. So, having a good Strategic Advisor is a boost to product engineering capabilities. Formlabs continues to provide professional 3D printers to markets worldwide.
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News Source: Businesswire.com
