Markforged has announced that founder Greg Mark has transitioned to the role of chairman as Shai Terem is promoted to President and CEO of the 3D printing hardware vendor.
The company says the reorganisation of its leadership team is the result of a planned succession that has been deigned to ‘position the company for continued success in its next phase of growth.’
In his new role as CEO, Terem is to take responsibility for the development and execution of short- and long-term strategies, as the company continues to scale. He joined the company 11 months ago as President and Chief Operating Officer, implementing a channel-first approach to its go-to-market strategy and building what has been described as a ‘strong infrastructure’ for rapid, efficient and scalable growth. Terem has previous leadership experience through his role as President of the Americas region at Kornit Digital, while also holding a number of product marketing, finance and operations roles with Stratasys.
Meanwhile, Mark will begin to focus on ‘evangelising the adoption’ of the company’s 3D printing platforms among engineers, designers and manufacturing professionals globally, as he steps up to the role as Chairman.
“Leading Markforged for the past seven years as chief executive officer has been an amazing journey, and I’m incredibly proud of what we’ve built,” commented Mark. “Before Markforged, access to strong 3D printed parts was limited to those who could afford million-dollar machines. Today, we have parts flying in space, and on commercial and military jets; we have hundreds of thousands of parts used by frontline workers to fight COVID. All are printed on a platform that is robust enough for end-use aerospace, and affordable to high schools and colleges. We have democratised metal and carbon fibre 3D printing, and we’re just getting started.
“We believe Shai will continue this progression and grow into more factories, schools, and design shops around the world,” Mark continued. “With his operator chops and considerable additive manufacturing experience, Shai has the right combination of skills to continue our rapid growth.”
“Markforged has been solving some of the more challenging real-world industrial manufacturing problems for years, and we believe the pandemic has shown just how essential additive manufacturing will be in a world where supply chains need to more nimble, adaptable, and resilient,” said Michael Medici, a managing director at Summit Partners and member of Markforged’s board of directors. “Greg has built a strong foundation for innovation that he will continue to develop as Shai works to scale the organisation from successful start-up to a pillar technology company of our time.”
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