Rafał Tomasiak returns as CEO of Zortrax
Former co-founder returns after five years to lead a barely surviving company
Zortrax is replacing its CEO and tidying up its share structure, although neither decision answers the question of whether the company still has anything left to manufacture…?
Last Friday, on July 24, Angelina Stokłosa resigned from the Management Board of Zortrax S.A., citing other professional obligations.
On the same day, the Supervisory Board appointed Rafał Tomasiak as CEO, while simultaneously terminating his previous independent commercial proxy authority.
His term runs until the end of 2026.
In 2013 Tomasiak co-founded the company and the Zortrax brand. After spending the past few years largely behind the scenes, he recently returned to lead the newly established Warsaw-based company, Zortrax Defence.
In 2017, Tomasiak brought Mariusz Babula into the company as Head Of Investor Relations, and Babula later replaced him as CEO in 2021. Babula stepped down in August 2025, and now, after Stokłosa’s brief tenure, the position returns to the removed co-founder.
In parallel, Zortrax is reorganizing its capital structure. On February 24, 2026, an extraordinary general meeting approved a 10-to-1 share consolidation, and on March 18 the registry court entered the amendment to the company’s articles of association: the share capital amounts to PLN 22,021,025 and is divided into 22,021,025 shares with a nominal value of PLN 1.00 each.
The operation is still awaiting its technical entry in the National Depository for Securities, so the share price remains at the old level.
On July 28, 2026, Zortrax shares traded at PLN 0.0485, or just under five groszy.
At the current exchange rate, that is approximately EUR 0.011 and USD 0.013, meaning in both currencies the share is worth only a little over one cent.
No change in nominal value will improve that valuation.
Since 2024, the company has been undergoing restructuring, has experienced delays in publishing its annual financial report, and its shares have been suspended from trading as a result. It has also sought financial rescue through various measures, including the controversial issuance of blockchain-based tokens.
The last in-house FFF printer, the Endureal, was unveiled in 2019; the last printer of any kind, the resin-based Inkspire 2, appeared in 2021. Both launches came before the rise of Bambu Lab and the market shift that has since left the consumer segment dominated by Chinese manufacturers.
In the background are two episodes from the company’s past. In 2014, Zortrax announced a contract for 5,000 printers for Dell. More than two years later, it turned out that no binding agreement existed, only a preliminary arrangement with Dell’s Indian branch, which the company did not have the capacity to fulfill anyway.
Five years later, in 2019 Formlabs attempted to buy Zortrax. The deal was organized by Babula, and according to his account, Tomasiak ultimately refused.
Today Zortrax, once the largest and most profitable Polish additive manufacturing company, is still fighting for survival.