Stratasys Announces Elchanan (Elan) Jaglom to Step Down as Chairman of the Board of Directors in May
February 06 2020 - 8:30AM
Business Wire
Stratasys, Ltd. (NASDAQ: SSYS) (the "Company") announced today
that Elchanan (Elan) Jaglom informed the Board of Directors of his
intention to resign as the Company’s Chairman of the Board,
effective May 17, 2020. Jaglom will remain a member of the
Board.
The Stratasys Board of Directors will convene on February 25th,
2020 and is expected to name a Chairman as Jaglom’s successor, to
go into effect May 17, 2020.
For over two decades Jaglom has served the Company, beginning as
a Director of Objet Ltd. in 1998 and as Chairman of Objet from 2001
until the Stratasys-Objet merger in December 2012. Jaglom then
served as Chairman of the Executive Committee until he was
appointed as Chairman of Stratasys in February 2015. Since June
2018, Jaglom has served as interim Stratasys CEO in parallel with
his Board leadership responsibilities. With the recent naming of
Yoav Zeif as the Company’s new CEO, effective mid-February, Jaglom
will remain in his role as Chairman for the subsequent three months
to ensure business continuity.
“It has been a privilege to serve as the Chairman of Stratasys
through over 20 years of industry leadership and I am proud of the
success we have achieved as the global leader in 3D Printing,” said
Jaglom. “I am excited and confident about the future for Stratasys.
We are entering a new phase as we prepare to introduce innovation
and deliver on a game-changing roadmap in the coming years. I will
continue to passionately support the Company as a member of the
Board and intend on working closely with our newly appointed CEO,
Yoav Zeif, whose experience will advance Stratasys to new heights
of success.”
Stratasys is the global leader in additive manufacturing
or 3D printing technology and is the manufacturer of FDM®,
PolyJet™, and stereolithography 3D printers. The company’s
technologies are used to create prototypes, manufacturing tools,
and production parts for industries, including aerospace,
automotive, healthcare, consumer products and education. For more
than 30 years, Stratasys products have helped manufacturers reduce
product-development time, cost, and time-to-market, as well as
reduce or eliminate tooling costs and improve product quality. The
Stratasys 3D printing ecosystem of solutions and expertise includes
3D printers, materials, software, expert services, and on-demand
parts production. Online at: www.stratasys.com.
Stratasys, PolyJet, and FDM are trademarks of Stratasys Ltd.
and/or its affiliates. All other trademarks are the property of
their respective owners, and Stratasys assumes no responsibility
with regard to the selection, performance, or use of these
non-Stratasys products.
Cautionary Statement Regarding
Forward-Looking Statements
Certain statements in this press release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 and other U.S. securities laws. Forward-looking
statements are characterized by the use of forward-looking
terminology such as "will," "expects," "anticipates," "continue,"
"believes," "should," "intended," "future," "planned," or other
words. These forward-looking statements include, but are not
limited to, statements relating to the Company's objectives, plans
and strategies, statements of preliminary or projected results of
operations or of financial condition and all statements that
address activities, events or developments that the Company
intends, expects, projects, believes or anticipates will or may
occur in the future. Forward-looking statements are not guarantees
of future performance and are subject to risks and uncertainties.
The Company has based these forward-looking statements on
assumptions and assessments made by its management in light of
their experience and their perception of historical trends, current
conditions, expected future developments and other factors they
believe to be appropriate. Important factors that could cause
actual results, developments and business decisions to differ
materially from those anticipated in these forward-looking
statements include, among other things: the degree of market
acceptance of our 3D printers, high-performance systems and
consumables, and the software and technology included in those
systems; potential declines in the demand for, or the prices of,
our products and services, or volume of our sales, due to decreased
demand either for them specifically or in the 3D printing market
generally; potential shifts in our overall strategy, including as
related to any reorganization activities and our capital
expenditures; potential shifts in our product mix to lower-margin
products or in our revenues mix towards our AM services business;
the impact of competition and new technologies; potential further
charges against earnings that we could be required to take due to
impairment of additional goodwill or other intangible assets;
potential failure to successfully consummate acquisitions or
investments in new businesses, technologies, products or services;
risks related to our relationships with our suppliers, resellers
and independent sales agents, and our operations at our
manufacturing sites; risks related to the international scope of
our operations and regulatory compliance (including reporting,
environmental, anti-corruption and other regulatory compliance)
related to that scope of operations; risks related to the security
of our information systems (including risks related to potential
cyber-attacks); changes in the overall global economic environment
or in political and economic conditions in the countries in which
we operate; changes in our strategy; costs and potential liability
relating to litigation and regulatory proceedings; and those
additional factors referred to in Item 3.D "Key Information - Risk
Factors" in our Annual Report on Form 20-F for the year ended
December 31, 2018, filed with the Securities and Exchange
Commission (the "SEC") on March 7th, 2019. Any forward-looking
statements made in this press release are made as of the date
hereof, and Stratasys undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200206005278/en/
Stratasys Investor Relations Yonah Lloyd – Vice
President, Investor Relations Yonah.lloyd@stratasys.com
Stratasys Public Relations Aaron Pearson – Vice
President, Public Relations Aaron.pearson@stratasys.com
952-917-6700
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