Stratasys CEO Ilan Levin to resign

Levin will resign June 1 after less than two years on the job.

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Stratasys announced Monday that its chief executive officer Ilan Levin is resigning June 1, after less than two years on the job.

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The 3D printing and additive manufacturing vendor said current board chairman Elan Jaglom will assume the position until a permanent CEO is chosen. Levin will provide ongoing consultancy services "as needed."

"The Board of Directors is appreciative of Ilan's contributions to Stratasys and Objet for over 15 years," Jaglom said in a prepared statement. "Ilan has implemented a number of key decisions as CEO that have kept the Company strong and ready for future expansion. We thank Ilan for his dedicated leadership of our Company during this phase in Stratasys' history."

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Stratasys has stumbled in recent quarters, with Levin noting earlier this month that the company experienced some slow down in orders for high-end systems in government, automotive, and aerospace.

The company has been rolling out new materials and prototyping printers, as well as moving more systems to production, but the first quarter shortfall proved worrisome to analysts. News of Levin's departure also sent the company's stock down more than 7 percent.

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