SLM Solutions appoints new CEO, receives €13 million funding boost
April 3, 2019
SLM Solutions Group AG, Lübeck, Germany, has announced new appointments and nominations to its leadership ranks, and received a €13 million investment to fund the company’s growth and development projects. After the announcement in late 2018 that outgoing CEO Uwe Bögershausen would not extend his contract beyond June 2019, the company has appointed Meddah Hadjar its new CEO effective May 1, 2019.
Hadjar reportedly brings a range of international experience in product management, Additive Manufacturing and engineering, having served in key leadership roles within the aviation, oil & gas and power & energy business units at General Electric. Hans-Joachim Ihde, Chairman of the Supervisory Board of SLM Solutions, stated, “We are very happy to have signed Mr Hadjar to bring the company back on its growth track.”
Further, Peter Grosch, Lars Becker and Bernd Hackman, of the Supervisory Board of SLM Solutions, have announced their retirement or stated that they will not stand for reelection in June. Michael Mertin, Magnus René and Thomas Schweppe have been recommended to join as new Supervisory Board members. The company expressed its belief that they will complement and strengthen the Supervisory Board by bringing additional experience in Additive Manufacturing, industrial manufacturing and capital markets to SLM Solutions.
Michael Mertin was former CEO of Jenoptik, Magnus René was former CEO of Arcam and Thomas Schweppe is Managing Director of 7Square and former Managing Director at Goldman Sachs. “We thank Peter Grosch, Lars Becker and Bernd Hackmann for their services and are encouraged by the fresh perspectives and unique experiences that the candidates Michael Mertin, Magnus René and Thomas Schweppe will bring to SLM Solutions,” Hans-Joachim Ihde commented.
The added investmen, which comes from Elliot, SLM’s largest shareholder, and ENA Investment Capital, is expected to bolster the company’s funding for further growth and R&D projects. Franck Tuil, Senior Portfolio Manager at Elliott, stated, “The commitment of additional capital is based on our belief in SLM’s technological leadership in the Additive Manufacturing industry and its strong customer base. We look forward to continuing our collaborative relationship with the company and are confident the newly appointed CEO and a strengthened Supervisory Board can successfully position SLM to realise its significant potential, delivering compelling value to all of SLM’s stakeholders.”