3D Printer HardwareAM IndustryCareers in AMMetal Additive Manufacturing

Benny Buller to step down ad Velo3D CEO

The Board has commenced a strategic business review process to explore alternatives in order to maximize shareholder value

Stay up to date with everything that is happening in the wonderful world of AM via our LinkedIn community.

After a period of skyrocketing growth, metal 3D printer hardware company Velo3D has been experiencing challenges in the past few months that have brought down stock value to around $.5 and saw many key people leaving the company. While the company’s business remains sound and its technology solid, like many other pure player 3D printing companies, Velo3D cannot yet assure that kind of rapid exponential growth that investors, especially Wall Street investors, require. So now founder and current CEO Benny Buller is stepping down as CEO of Velo3D and the Board of Directors is commencing a strategic business review process to explore alternatives to maximize shareholder value.

This decision is not entirely unexpected. The last time VoxelMatters spoke with Mr. Buller at Formnext he confided that he is not a businessman as much as he is an engineer. He invented the technology and built the company. Now it’s time to step down as CEO, while remaining part of Velo3D on the Board of Directors. Brad Kreger, EVP of Operations, has been appointed as interim CEO, effective December 18, 2023.

Benny Buller to step down ad Velo3D CEO, as Board commences a business review process to explore alternatives to maximize shareholder value
Benny Buller is stepping down as CEO of Velo3D Photograph © Mitch Tobias / VELO 3D.

“I want to thank Benny for his tireless efforts over the last nine years from founding the company to making Velo3D the technology leader in the rapidly growing additive manufacturing industry,” said Carl Bass, Chairman of the Board of Velo3D. “We are incredibly grateful to Benny for all his contributions. However, given the current environment, the Board believed a change would best position the company for future success. We look forward to continuing to benefit from Benny’s experience at the board level as we execute on our strategic technology and profitability initiatives.”

Mr. Kreger has been Executive Vice President of Operations at Velo3D since December of 2022. Before Velo3D, he held various executive positions overseeing, and rapidly scaling, manufacturing operations at several early and mid-stage companies including tenures at Affymetrix, Thermo Fisher Scientific, and Fluidigm Corporation. The company has also commenced a search for a permanent CEO.

Additionally, the Board of Directors has commenced a strategic business review process to explore alternatives in order to maximize shareholder value. This is remindful of voxeljet’s recently announced efforts as both companies try to grow stock value in order to continue to be listed on US indexes. Potential strategic alternatives to be explored or evaluated may include but are not limited to, a strategic transaction, potential merger, business combination or sale.

There can be no assurance that Velo3D’s strategic business review process will result in any transaction or other strategic outcome. The company does not expect any impact on its operations or its ability to serve its customers during the review process. Velo3D said that it remains committed to driving strategic value for its customers, employees, partners and shareholders. The company does not intend to disclose further developments on this strategic review process unless and until it determines that such disclosure is appropriate or necessary.

Composites AM 2024

746 composites AM companies individually surveyed and studied. Core composites AM market generated over $785 million in 2023. Market expected to grow to $7.8 billion by 2033 at 25.8% CAGR. This new...

Davide Sher

Since 2002, Davide has built up extensive experience as a technology journalist, market analyst and consultant for the additive manufacturing industry. Born in Milan, Italy, he spent 12 years in the United States, where he completed his studies at SUNY USB. As a journalist covering the tech and videogame industry for over 10 years, he began covering the AM industry in 2013, first as an international journalist and subsequently as a market analyst, focusing on the additive manufacturing industry and relative vertical markets. In 2016 he co-founded London-based VoxelMatters. Today the company publishes the leading news and insights websites VoxelMatters.com and Replicatore.it, as well as VoxelMatters Directory, the largest global directory of companies in the additive manufacturing industry.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close Popup
Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

Technical Cookies
In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Accept all Services


Join our 12,000+ Professional community and get weekly AM industry insights straight to your inbox. Our editor-curated newsletter equips executives, engineers, and end-users with crucial updates, helping you stay ahead.