05-29-2018: Ilan Levin resigned as CEO of Stratasys

He was replaced by Elchanan (Elan) Jaglom

On May 28, 2018, Stratasys announced that Ilan Levin has decided to step down from his positions as Chief Executive Officer and Director, effective June 1, 2018. He was temporarily replaced by Elchanan (Elan) Jaglom, the Company’s Chairman of the Board, who served as CEO until a successor was appointed. The search for the right candidate lasted for a year and a half - finally, Yoav Zeif (who is still in power today) was chosen.

Levin served as CEO of Stratasys for exactly two years. In June 2016, he replaced David Reis - the man responsible for the company's merger with the Israeli Objet and the acquisition of MakerBot Industries.

Importantly, Levin came from Objet company and has been associated with it for over 15 years. Previously, he was managing director of CellGuide, which produces GPS solutions for mobile devices.

Levin's resignation from CEO position may have been related to the then disappointing financial results. In the first quarter of 2018, Stratasys again suffered a loss and recorded further declines in sales, which coincided with the downward trend for the entire previous year.

In a statement sent to the media, Ilan Levin did not hide his disappointment, but at the same time he reassured and emphasized that in the long run the downward trend would reverse. Unfortunately, it finally came true, but not with him in charge…

Source: www.stratasys.com