- Push-out Score suggests push-out forces
- After less than two years in the position
- Praise and thanks for Levin
- Elan Jaglom taking over in the interim
- Search for a successor
(exechange) — Minneapolis & Rehovot, Israel, May 29, 2018 — Ilan Levin, chief executive of Stratasys, leaves. It is a change at short notice. As announced by Stratasys, Ltd. in a news release and in a regulatory filing published on Tuesday, May 29, 2018, Ilan Levin leaves his post as Chief Executive Officer at the manufacturer of 3D printers after less than two years in the position, effective June 1, 2018.
No company wants a CEO to flame out in the first years.
Stratasys will undertake a search for a successor.
Levin’s duties will be taken over in the interim by Elchanan (Elan) Jaglom, currently Chairman of Stratasys, Ltd.
Elan Jaglom is about 24 years older than Ilan Levin.
No reason given
In the announcement, Stratasys did not explicitly explain the reason for Levin’s imminent move, leaving room for speculation.
Precise information about Levin’s future plans was not immediately available.
Generally speaking, it is often an alarm signal for investors when a CEO leaves the position at short notice and without a reasonable explanation.
Stratasys said: “Ilan Levin has decided to step down from his positions as Chief Executive Officer and Director, effective June 1, 2018.”
Share price decline
The change follows a decline in the share price of Stratasys, Ltd. since October 2014.
Chaired by Elchanan Jaglom
Stratasys, Ltd. is chaired by Elchanan Jaglom.
Elchanan (Elan) Jaglom has been Chairman of the Board at Stratasys, since February 2015.
In the position of CEO since 2016
Ilan Levin assumed the position of Chief Executive Officer at Stratasys, in July 2016.
Levin was appointed President and Vice Chairman of the Objet board in February 2011, a position he held until the Stratasys-Objet merger.
With experience in venture capital and private equity investment, he has acted as a member of the board of directors and as an advisor for a wide variety of technology-related companies, as well as a director for Vision Sigma Ltd.
From 2003 through 2009, he served as Chief Executive Officer of CellGuide Ltd.
Levin holds a B.A.Sc., in engineering from the University of Toronto and an LL.B., law from Tel Aviv University.
Levin will provide ongoing consultancy services to the Company following his resignation, as needed.
As a general rule, when a top leader announces to step down with no permanent successor available, it’s a sign that the change was unplanned and too early.
In general, possible causes for an unexpected management change may be, among others, disagreement or dispute.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Ilan Levin’s imminent move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 23.2018 ($).