Markforged, Watertown, Massachusetts, has announced the promotion of Shai Terem to president & Chief Executive Officer. Gregory Mark, founder of Markforged has now transitioned to the role of chairman.
The leadership announcements are the results of a planned succession and are said to be designed to position the company for continued success in the next phase of its growth.
As CEO, Terem will lead the development and execution of short- and long-term strategies and day-to-day operations, with the aim of positioning Markforged to continue delivering value to its key stakeholders as the company continues to scale.
Since joining Markforged in December 2019 as president and Chief Operating Officer, Terem has reorganised the company to incorporate a channel-first approach while building a strong infrastructure for rapid, efficient and scalable growth.
Previously, he served as president of the Americas region at Kornit Digital, a global specialist in 2D digital printing for textiles, and held various product marketing, finance, and operations roles within the AM company Stratasys.
“I have been fortunate to spend the majority of my career in this industry – experience that gives me profound appreciation for the immense value that Markforged brings to organisations around the world,” stated Terem.
“Our tools are designed to allow manufacturers to go from design to a functional part with unmatched efficiency to truly optimise the supply chain,” he continued. “It is an honour to take the helm of such a pioneering company, and I’m eager to play my part in our mission to reinvent manufacturing.”
“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,” stated Gregory 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,” he continued. “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,” he added. “With his operator chops and considerable Additive Manufacturing experience, Shai has the right combination of skills to continue our rapid growth.”
In his new role as chairman, Mark will focus on promoting adoption of the company’s Additive Manufacturing platform among engineers, designers and manufacturing professionals all over the world.
“Greg has built a strong foundation for innovation that he will continue to develop as Shai works to scale the organisation from successful startup to a pillar technology company of our time.”