Stratasys Ltd, based in Minneapolis, USA, and Rehovot, Israel, has announced that Ilan Levin has resigned from his position as Chief Executive Officer and Director of the company effective June 1, 2018. Elchanan (Elan) Jaglom, the Company’s current Chairman of the Board, will serve as interim CEO until a successor can be appointed.
In accordance with Israeli law, Jaglom’s service in the position of Chairman and CEO will require shareholder approval and to this effect, Stratasys plans to call a shareholder meeting. Levin will reportedly provide ongoing consultancy services to the company following his resignation.
The company’s Board of Directors has also appointed an Oversight Committee to help support the management of the company during the interim period. This committee is comprised of David Reis, the company’s Vice Chairman of the Board, Executive Director and former CEO, along with Directors Scott Crump, previous Chairman and Founder, and Dov Ofer.
The Board of Directors has also established an Executive Search Committee, composed of Jaglom and Victor Leventhal, the Chairman of the Compensation Committee of the Company’s Board of Directors, to oversee the engagement of an international executive search firm to help identify a new Chief Executive Officer.
On Levin’s resignation, Jaglom stated, “The Board of Directors is appreciative of Ilan’s contributions to Stratasys and Objet for over 15 years. Ilan has implemented a number of key decisions as CEO that have kept the company strong and ready for future expansion. We thank Ilan for his dedicated leadership of our company during this phase in Stratasys’ history.”