Swedish-headquartered Additive Manufacturing company Arcam announces the departure of both its CEO and CFO.
Arcam, the Additive Manufacturing solutions provider for metal component production, has just revealed that Magnus René, President and CEO of Arcam AB and Johan Brandt, CFO and deputy CEO have decided to leave the company.
Arcam manufactures orthopedic implants as well as products for the aerospace industries. General Electric recently bought 76 percent of the company’s shares.
Arcam is known for its Electron Beam Melting process (EBM), which can process dense metal components and create intricate geometries layer by layer. Its patented machines offer a more cost-effective way to create orthopedic implants and aerospace component parts.
Magnus René joined Arcam back in 2001, whilst Johan Brandt has been CFO since 2012. René will remain CEO for the next six months or until a new CEO has been appointed.
Meanwhile, Brandt’s notice period is only three months. He will continue to act as CFO until a replacement has been found or the end of his notice period.
Göran Malm, Chairman of Arcam, said in a statement: “Magnus René has with energy and decisiveness built Arcam to a leading company in the Additive Manufacturing sector. He has together with his team, customers and partners worldwide developed the company from a start-up to a global industry. Magnus has also been instrumental in bringing Arcam into its new future with GE as an owner.”
He adds that Brandt developed the structure of the company and boosted its growth and global reach. In the role of CFO, he showed true leadership and his team developed an excellent management of Arcam and its subsidiaries.
“I have had a fantastic journey, being part of the team building Arcam during those 16 years. Today, Arcam is well positioned, with a great team, world-class products, strong leadership in our companies and a strong cash position after the recently concluded share issue. With GE as majority owner this is a good time for me to move on and for a new CEO to take over and develop the company in the new environment,” said Magnus René, President, and CEO.
(Source: Press Release)