Formlabs Overhauls Board as Apple Veteran Dan Riccio Joins

A Founder Leaves, an Apple Veteran Enters

Formlabs has restructured its entire board in one announcement. Co-founder Natan Linder is stepping down after fifteen years, moving to an advisory role. In his place, Max Lobovsky, another co-founder and the company's CEO, becomes Chairman. Chief Product Officer Dávid Lakatos is elevated to President and gains a board seat. Longtime independent director Nadia Shouraboura, who ran global supply chain at Amazon, becomes Lead Director.

The headline name is Dan Riccio. Apple's former Senior Vice President of Hardware Engineering has joined Formlabs as a strategic advisor and investor. Riccio oversaw the hardware teams behind the iPhone, iPad, Apple Watch, and Mac hardware during his tenure at Apple. Formlabs did not disclose the size of his investment.

A Pattern of Public-Company Governance Hires

This is the second consecutive board appointment at Formlabs to bring in a public-company operator. In February 2026, Cognex veteran Robert Willett joined the board, replacing Carl Bass, the former Autodesk CEO who had been a director since 2017. That move was widely read as Formlabs quietly assembling the governance structure typical of a company preparing for a public listing.

Shouraboura's elevation to Lead Director reinforces that read. She spent years on Amazon's executive leadership team before joining Formlabs' board in 2022. The Lead Director role at Formlabs is a newly created seat, and it points directly at the operational complexity the company is taking on: the Fuse X1 SLS system launched in June, priced from $84,999, demands a much larger manufacturing and support footprint than the desktop resin printers that built the company's reputation.

Lakatos: The Quiet Architect

The most consequential promotion inside the announcement is Lakatos'. He joined Formlabs within its first few years and has led product for more than a decade. Every generation of Formlabs hardware, materials, and software carries decisions he made. Lobovsky described him as "a co-founder as well," which is unusual phrasing but not inaccurate given his tenure and scope of influence. Making him President signals that the company intends to keep product continuity through whatever comes next.

A Chinese Strategic Investment Arrives Simultaneously

The board changes arrived alongside a second announcement: Chinese additive manufacturing investment fund Concord AM Capital has become a strategic investor in Formlabs. The fund's investment director Shen Wang posted the news on LinkedIn, framing it as a partnership to support Formlabs' expansion across China and the broader APAC region, working alongside Hanfeng Wu, Head of China Operations at Formlabs.

Formlabs has operated a Shenzhen office since 2018 and already has Chinese capital in its shareholder base. Shenzhen Capital Group participated in Formlabs' $30 million Series C round back in 2018. The Concord AM deal extends that relationship rather than starting fresh.

What the Moves Actually Signal

Formlabs is not commenting on any IPO plans, and no filing has been made. But boards are not restructured like this by accident. Two consecutive appointments of public-company governance veterans, in the same window as a major industrial product launch and a strategic investment from a China-focused AM fund, reads like preparation for the next chapter.

The contrast with other 3D printing companies is telling. Velo3D's board overhaul in late 2024 was a rescue mission, not a growth play. 3D Systems is searching for a CEO under pressure to cut costs. Formlabs is making these moves from a position of strength, after the Fuse X1 launch and in the middle of an industrial push. The timing matters.