On-demand digital manufacturing provider Protolabs has appointed Robert Bodor to the role of President and CEO, effective March 1, 2021.
Bodor will succeed Vicki Holt, who is retiring after leading the firm for the past seven years, but who will remain CEO during the transition and will serve on Protolabs’ board until May.
“I am excited to announce that Protolabs Board of Directors has named Rob as our next CEO,” Holt said. “Rob has been instrumental in building Protolabs into what it is today. Since joining the company, Rob has held a variety of leadership roles, including overseeing our largest region since 2015.”
Bodor brings 20 years of leadership experience to the President and CEO role, having previously served as Protolabs’ Vice President and General Manager of the Americas for the past six years.
“He has more than doubled the revenue of the Americas’ business during his tenure and played an instrumental role in expanding the company’s services into 3D printing and sheet metal fabrication,” Holt continued. “Rob is a very strategic business leader and a great leader of people. His passion and commitment will continue to serve Protolabs well.”
During his time at Protolabs, Bodor has also held the role of Chief Technology Officer and led the firm’s business development and product development sections. Prior to joining Protolabs in 2021, Bodor undertook leadership roles at multinational conglomerate Honeywell and global management consulting firm, McKinsey.
“I look forward to the opportunity to serve our employees, our customers, and our shareholders,” Bodor said. “I want to thank Vicki for her support and guidance over the past seven years, and I am excited about Protolabs’ future and what we can accomplish. I am fortunate to have the opportunity to lead the world’s foremost digital manufacturing service provider that’s helping accelerate product innovation and supply chain optimization across many industries.
“My commitment is to inspire our incredible team of employees and deliver value for our customers and shareholders. I look forward to working with Protolabs’ executive team as we continue to drive the success of this company.”
Planned transition process
After thanking Holt for her leadership in the CEO role, Protolabs’ Chairman of the Board Archie Black congratulated Bodor on his promotion. According to Black, the transition follows a carefully planned succession process, with Bodor now the right person to lead the company forwards.
“It has been a period of remarkable growth and expansion for Protolabs,” he said. “[Holt] continuously improved all aspects of the company’s operations while being a compassionate leader and developing a winning culture. All of this helped drive exceptional revenue growth and returns for our shareholders.”
According to Black, Protolabs’ revenue increased by more than 165 percent during Holt’s tenure, while market capitalization grew by more than $1.8 billion.
Protolabs’ performance and ambitions
While Protolabs specializes in the production of custom prototypes and low-volume parts, Holt last year indicated a shift in focus from prototyping to production for the firm, and launched its “production-ready” metal 3D printing service in June 2019 with this in mind.
This year, the firm’s 3D printing segment also returned to profit in Q3 after maintaining a relatively flat revenue performance in Q2, as the firm navigated the challenges of the Covid-19 pandemic. According to Holt, the flexibility of the company’s business model enabled the firm’s relative success during a period where other firms have not fared as well.
In April, Protolabs announced the integration of GE Additive’s X-Line 2000R large-format 3D printers to its equipment portfolio, while in May the firm invested £10.5 million in the construction of a new 3D printing facility in Putzbrunn, Germany. The 5,000 square meter aims to increase the company’s production capacity by 50 percent and was built to accommodate a growing demand for the firm’s technology.
Most recently, the firm received the RoSPA Gold Award for keeping its staff, customers, contractors, and any visitors to its facility in Shropshire safe. The longest-running scheme of its kind in the UK, the RoSPA award is a health and safety project that receives entries from organizations across the globe.
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Featured image shows Robert Bodor will succeed Vicki Holt as President and CEO of Protolabs, effective March 1, 2021. Image via Protolabs.