Nano Dimension appoints new CEO and responds to DM lawsuit

Merger activity has recently characterized most corporate activity within Nano Dimension, at various levels. After the recent decision to change several members of the Board – most of whom were aligned with CEO Yoav Stern – the company said it has appointed Mr. Julien Lederman, previously VP of Corporate Development, as Interim CEO. Mr Lederman has been in charge of the recent M&A strategy at Nano Dimension, executing over $500 million in acquisitions. Mr. Yoav Stern’s role as CEO has been terminated, effective immediately

At the same time, Nano Dimension responded to Desktop Metal’s recent merger-related lawsuit by saying that “The Company believes the lawsuit is without merit and inconsistent with the terms of the Merger Agreement, particularly with respect to the Company’s right to work through the review process that is underway with the Committee on Foreign Investment in the United States (“CFIUS”).” Nano Dimension believes that the lawsuit is “nothing more than an effort by Desktop Metal to prevent the Company from exercising its rights under the Merger Agreement and to impose deadlines and obligations that are inconsistent with that agreement.” Thus Nano Dimension intends to vigorously defend itself and preserve its rights under the Merger Agreement.

In the lawsuit brought before the Delaware Court of Chancery, Desktop Metal alleged that Nano Dimension has failed to use its reasonable best efforts to obtain regulatory approval in connection with the merger agreement between the parties dated July 2, 2024.

Even as interim CEO, leveraging his experience in M&A, Mr Lederman is well-positioned to address this challenge while the Board conducts a comprehensive search for a permanent CEO.

Before Nano Dimension, Mr. Lederman was employed at Amazon.com, Inc., The Goldman Sachs Group, Inc., Lehman Brothers Holdings, Inc., and the World Economic Forum. He earned an MBA from INSEAD in France in 2013 and a BA from Colgate University in New York in 2008.

Mr. Yoav Stern had been serving as CEO and a member of the Board since January 2020. As previously announced, at the Company’s 2024 annual general meeting of shareholders, dated December 6, 2024 (the “AGM”), Mr. Stern was not re-elected as a director.

Mr. Ofir Baharav, Chairman of the Board, commented: “The Board is pleased and confident in our appointment of Julien Lederman as Interim Chief Executive Officer. The Board fully supports Julien during this transition period while we conduct a broad search for a permanent Chief Executive Officer.”