MAPLE PLAIN, Minn.--(BUSINESS WIRE)--Mar. 3, 2017--
Custom prototyping and low-volume production company Proto Labs, Inc.
(NYSE: PRLB) announced today that its founder and chairman of the board
of directors, Larry Lukis, has chosen to retire and will not stand for
re-election at the company’s annual meeting in May.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170303005108/en/
Proto Labs Founder and Board Chairman Larry Lukis will retire from the company after 18 years (Photo: Proto Labs).
Lukis launched the ProtoMold Company in 1999 to reduce the amount of
time it took product developers to get plastic injection-molded parts.
He wrote front-end software programming that automated design analysis
on 3D CAD models, which could then be sent digitally to interconnected
manufacturing equipment for quick-turn part production.
As a result of his pioneering software and automation advancements,
ProtoMold grew from a small startup in Long Lake, Minnesota to become a
global innovator in digital manufacturing with production facilities in
the United States, Europe and Japan. In 2012, Proto Labs went public on
the New York Stock Exchange and by the end of 2016, the company reported
nearly $300 million in annual revenue.
“While the company has grown significantly over the past decade, Proto
Labs has never lost that tenacious startup mentality that it was founded
on,” said Lukis. “With the current executive leadership, I know Proto
Labs will be in good hands for many years to come as it continues to
push the boundaries of what’s possible in manufacturing.”
Even in Lukis’ retirement from Proto Labs, his entrepreneurial spirit
remains. He launched Digi Labs in 2014 to invest in and accelerate
startup companies with products ranging from compact marine tech to
virtual reality devices. His venture comes as no surprise since he
created the Proto Labs Cool Idea! Award in 2011, which supports
innovative startups by providing in-kind manufacturing services.
“Larry’s brilliant computing mind and leadership presence in the
boardroom have been invaluable,” said Vicki Holt, President and CEO of
Proto Labs. “He is the reason Proto Labs is the company it is today, and
we’ll certainly still look to him at times for advice in the future.”
Longtime board member, Sven Wehrwein, will serve as Lukis' successor as
chairman of the board of directors. Wehrwein, who has served as the
board’s lead independent director since 2011, has more than 35 years of
experience as an investment banker, chief financial officer and
certified public accountant.
About Proto Labs
Proto Labs is the world's fastest digital
manufacturing source for custom prototypes and low-volume production
parts. The technology-enabled company uses advanced 3D printing, CNC
machining and injection molding technologies to produce parts within
days. The result is an unprecedented speed-to-market value for designers
and engineers and an on-demand resource throughout a product’s life
cycle. Visit protolabs.com
for more information.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170303005108/en/
Source: Proto Labs, Inc.
Proto Labs, Inc.
Bill Dietrick, 763-479-7664
bill.dietrick@protolabs.com
or
Media
Contact:
PadillaCRT for Proto Labs
Tim Nelson,
612-455-1789
tim.nelson@padillacrt.com