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Nano Dimension Ltd., a digital manufacturing leader, announced the appointment of Mr. Ofir Baharav as its new Chief Executive Officer, effective immediately. This strategic move underscores the Company's commitment to swiftly realizing merger synergies, restoring profitability, and delivering substantial shareholder value.
The Board of Directors, having worked closely with Mr. Baharav as Chairman, recognized his unique qualifications. Mr. Baharav has a proven track record in transformation and innovation, along with a deep background in capital equipment for the electronics industry and additive manufacturing, 3D printing technologies, making him the ideal candidate to lead Nano Dimension through this pivotal phase.
“Mr. Baharav’s proven ability to drive strategic change and operational efficiency is precisely what Nano Dimension needs at this critical juncture,” stated Robert Pons, Nano Dimension new Chairman of the board of directors, “His deep industry expertise and leadership will be instrumental in navigating the integration, achieving rapid profitability, and delivering significant value to our shareholders.”
Mr. Baharav brings nearly three decades of experience in capital equipment, spanning additive manufacturing and electronics. His prior roles as CEO of Maxify, VP Products at Stratasys, CEO at Xjet, EVP Products at Credence Systems, and President at Optonics, demonstrate a consistent pattern of driving strategic vision, technological innovation, cost optimization, and accelerated growth.
Driven by a passion to build disruptive manufacturing technology organizations, but also the capabilities to drive necessary transformation, Mr. Baharav has already stewarded significant changes since becoming Chairman on December 15th, 2024, including:
- Strategic Realignment: Refocused R&D and sales on products and services where the Company can innovate, maintain long-term competitiveness, and partner with customers in the fabrication of high-value, high-performance applications.
- Cost Reduction: Implemented immediate measures to reduce G&A expenses, which are expected to deliver over $20 million of fully annualized savings by year-end; with further reductions expected from post-merger operational consolidation.
- High-impact Negotiations: Successfully negotiated with CFIUS to remove restrictive limitations on post-merger cost reductions and synergy realization, enabling the company to achieve projected operational efficiencies.
- Governance Enhancement: Initiated amendment proposals to the Articles of Association (pending shareholder approval) along with removal of poison pill to better align with shareholder interests, which reinforces transparency and accountability.
- Operational Optimization: Streamlined and relocated field operations to enhance sales in the U.S. and China, improving market penetration and customer responsiveness.
- Accountability and Transparency: Implemented comprehensive performance metrics and reporting systems, ensuring clear accountability and data-driven decision-making.
“We are confident that Mr. Baharav’s leadership will drive the rapid and decisive actions necessary to achieve profitability and refocus the company,” said David Stehlin, a Board Director, “His combined expertise in electronics and additive manufacturing is uniquely suited to our strategic direction, ensuring we capitalize on the significant opportunities ahead.”
The board wishes to thank Mr. Julien Lederman for his strong leadership and execution having stepped into the role of Interim CEO in the most challenging of times with both board and management completely afresh. As Nano Dimension’s Chief Business Officer, Mr. Lederman will be leading the corporate transformation with a strategic focus on post merger integration, communications, investor relations, along with spearheading a systematic operational planning and performance tracking framework to drive organizational excellence and accountability.
“It is a privilege to lead Nano Dimension in creating value for shareholders, working with a talented cohort of colleagues and partnering with industry leading customers. Nano Dimension, which now includes Desktop Metal and is expected to include Markforged, is composed of exciting opportunities to build an enduring digital manufacturing leader. Strategic integration efforts and transformations are underway, creating an exceptional company - one with a sustainable business model built upon innovative technologies focused on high value applications for digital manufacturing that will deliver financial results. I want to thank Mr. Lederman for his leadership during this time, and I look forward to working closely with him.”
Mr. Zivi Nedivi, President, and Mr. Tomer Pinchas, Chief Financial Officer and Chief Operating Officer are departing the Company. Mr. Baharav has resigned from the Board, while Robert Pons, a director since December 2024, becomes Chairman of the board.
