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- Velo3D Appoints Brad Kreger as Permanent CEO
Velo3D Appoints Brad Kreger as Permanent CEO
Slice of Manufacturing Team
June 20, 2024
Key Highlights:
Brad Kreger appointed as permanent CEO of Velo3D.
Successful re-alignment initiatives under Mr. Kreger.
$27 million in new orders booked since mid-December.
Improved Sapphire printer quality and reduced system installation time.
30% reduction in year-over-year operating expenses.
Source (Business Wire)
Notable Quotes
“Under Mr. Kreger’s leadership, the company has executed on its re-alignment initiatives, materially reduced its cost structure and improved overall operating efficiency. At the same time, his customer-first go-to-market strategy has resulted in an acceleration of orders from both new and existing customer, reflecting confidence in the company’s technology as well as in its initiatives to improve customer satisfaction."
“I would like to thank the Board for their confidence in me, and I remain very excited about our opportunity in additive manufacturing that is transforming key industries, like defense, aerospace, and energy. Overall, I am very pleased with our strategic execution so far this year. We are successfully rebuilding our backlog and pipeline as we booked $27 million in new orders from mid-December 2023 through the first quarter of 2024, with $22 million of backlog going into the second quarter of 2024.”
Our Take:
The appointment of Brad Kreger as the permanent CEO of Velo3D signifies the Board’s confidence in his leadership and strategic vision. His success in driving the company’s re-alignment initiatives and improving operational efficiency has been instrumental in positioning Velo3D for future growth. With significant new orders and an enhanced focus on customer satisfaction and system reliability, Velo3D is poised to capitalize on the increasing demand for advanced additive manufacturing solutions. Mr. Kreger's leadership will be crucial in navigating the company through the evolving landscape of the defense, aerospace, and energy sectors, ensuring Velo3D's continued innovation and market expansion.