If you thought we could make it through the month of April without any more executive-level shakeups being announced in the 3D printing world, you were sorely mistaken. Earlier this month, Organovo CEO Keith Murphy announced his resignation. In February, we saw Carl Bass step down as CEO of Autodesk, and Jonathan Jaglom resigned as MakerBot’s CEO in February; going back to the tail end of 2016, Erez Simha, the CFO of Stratasys, handed the reins over to Lilach Payorski. Today, we’ve just learned that 3D printer and 3D printed electronics manufacturer Nano Dimension has appointed Avi Reichental to its board of directors.
Reichental’s name probably sounds pretty familiar, as he spent over ten years as the president, CEO, and director at 3D Systems, which recently named two new members to its own board of directors. During his time at 3D Systems prior to his departure in October 2015, Reichental worked hard to cement the company’s status as a global 3D printing provider, increasing market valuation by more than twelve-fold, and growing revenue by more than six-fold. His reign at 3D Systems was not without controversy and significant ups and downs, but no one can deny the impact Reichental has had.
Amit Dror, president and CEO of Nano Dimension, said, “Avi disrupted the 3D-printing industry and showed that success comes from challenging the status quo. I am very pleased he is joining our board of directors as we continue to grow Nano Dimension for long-term profitable growth. Avi is an experienced executive, parallel entrepreneur, and visionary. He has relevant and profound global insights into the field of additive manufacturing, that we believe will be immensely valuable to Nano Dimension.”
In a move that may have surprised many, the teaming up also makes some sense: while Reichental may have disrupted the 3D printing industry, so too has Nano Dimension, which was founded in Israel in 2012, and develops advanced 3D printed electronics systems. Its products, including its dedicated PCB printer, the DragonFly 2020, combine 3D software, 3D inkjet, and nanomaterials; the company recently announced that it had made its 2017 Q1 beta customer goal for the DragonFly 2020. The company is also working to develop its ceramic inkjet 3D printing technology, and earlier this month filed a patent application for 3D bioprinted kidney structures.
Reichental held senior executive leadership positions with Sealed Air from 1981 to 2003; he also served as its corporate officer for over ten years. He was also a member of the board of directors of connected products provider Harman International for the last two years, until it was acquired by Samsung Electronics. Reichental is the founder, chairman, and CEO of venture investment, advisory, and product development company XponentialWorks, and currently serves as a general partner at another Israeli company, OurCrowd First, which is focused on seeding and scaling high-tech companies and currently the country’s most active early-stage venture fund.
Reichental said, “I am excited to join the Nano Dimension Board, and be part of a leading 3D-printing tech company that is disrupting, shaping and defining the future of how electronics are made.”
However, Reichental’s addition to the board of directors isn’t the only governance change underway at Nano Dimension. Effective immediately, Yoel Yogev and Zvika Yemini have made the decision to step down from the board, and Dagi Shachar Ben Noon will be remaining on the board of directors, but stepping down as the company’s COO in order to “pursue new challenges.”
What are your thoughts on this announcement? Discuss in the Avi Reichental forum at 3DPB.com.