Formlabs Overhauls Leadership With Former Apple Executive as IPO Looms

Formlabs is rearranging its leadership at a moment when the 3D printing industry needs a win. The company has brought in Dan Riccio, Apple's former Senior Vice President of Hardware Engineering, as a strategic advisor and investor. At the same time, CEO Max Lobovsky moves from CEO to Chairman of the Board, long-time co-founder Natan Linder steps down to an advisory role, and Dávid Lakatos becomes President and board member.

A management shuffle with a purpose

These moves are not random. Formlabs has hired a Head of Investor Relations, a role that only makes sense for a company planning a public listing. Adding Riccio signals that Formlabs wants someone who has shipped hardware at massive scale. He oversaw the iPad, Mac, and iPhone engineering teams. That experience translates well to a company trying to grow from a successful startup into a global manufacturing platform.

Riccio said he was impressed by Formlabs's hardware, software, and materials integration. His mandate covers product development, design rigor, and operational scaling. Those are exactly the areas a company needs to tighten before an IPO.

Who stays and who goes

Natan Linder, who co-founded Formlabs with Lobovsky, is not leaving the company. He moves to an advisor role. Linder also founded Tulip, an operations software firm, so he has his own bets running. Rob Willett, the former Cognex CEO brought in earlier this year, stays on the board and is investing more. Nadia Shouraboura, the former Amazon executive, becomes Lead Director.

Lobovsky framed Lakatos as a co-founder in everything but name. Lakatos has been at Formlabs almost from the beginning and helped build most of its products and strategy. Elevating him to President suggests Lobovsky wants to focus on the chairman role and long-term direction while Lakatos runs day-to-day operations.

Why an IPO now

Formlabs operates in a crowded consumer and professional 3D printing market. Bambu Lab is growing fast, Creality went public, and Prusa remains a strong independent. An IPO would give Formlabs the capital to compete on factory automation, materials science, and global distribution. The question is where. A US listing is possible, but China offers higher valuations for hardware companies and Formlabs has a big APAC business. Chinese private equity firm Concord AM Capital recently became a strategic investor, which makes a Chinese listing more likely.

The global economy is unsettled, so timing matters. Formlabs either moves quickly or waits for conditions to improve. Either way, this leadership team is built for the scrutiny of public markets.