Formlabs Brings in Former Apple Hardware Chief Dan Riccio as It Restructures Leadership

Formlabs announced a sweeping board and executive restructuring on August 12, bringing in Dan Riccio, Apple's former senior vice president of hardware engineering, as a strategic advisor and investor. Riccio oversaw the development of the iPhone, iPad, and Mac during his tenure at Apple.

Co-founder Maxim Lobovsky moves from CEO to Chairman of the Board, succeeding co-founder Natan Linder, who steps down after fifteen years and transitions to an advisor role. Chief Product Officer Dávid Lakatos, one of Formlabs's earliest employees, has been named President and joins the board. Board member Rob Willett, former CEO of Cognex, is also increasing his stake in the company. Nadia Shouraboura, who joined the board in 2022 and previously led worldwide supply chain and fulfillment at Amazon, becomes Lead Director.

The moves come weeks after Bloomberg reported that Formlabs is in early talks with advisers about an initial public offering that could raise roughly $500 million. The company was last valued at $2 billion in its 2021 Series E led by SoftBank Vision Fund 2.

Adding a public-company veteran like Riccio, alongside Willett's Cognex background, gives Formlabs the hardware and operational expertise it would need to operate under public-market scrutiny. Linder's departure from the board closes a founding chapter. Lakatos's promotion signals that product continuity, not a reset, is the priority.

Whether an IPO comes this year or next, the board composition now looks less like a startup and more like a company getting its governance ready for Wall Street.