Arcam—a Germany-based manufacturer of electron beam melting (EBM) machines and GE Additive company—has issued a press release stating that its chief executive officer Magnus René and chief financial officer (CFO) Johan Brandt have terminated their employment contracts.
René has held the position of CEO since 2001. He has a notice period of six months and is to remain until a new CEO is appointed or June 3, 2018, at the latest.
Brandt has held the position of CFO since 2012. He has a notice period of three months and is to remain until a new CFO is appointed or April 30, 2018, at the latest.
Commenting on René’s and Brandt’s significant contribution to the company’s growth and success, Göran Malm, chairman of Arcam, said: ‘Magnus René has with energy and decisiveness built Arcam to a leading company in the Additive Manufacturing sector. He has, together with his team, customers and partners worldwide, developed the company from a start-up to a global industry. Magnus has also been instrumental in bringing Arcam into its new future with GE as an owner. Johan Brandt has, as CFO and deputy CEO built the structure of the company and thereby facilitated our growth and globalization. He has with his leadership and his team developed first class management of Arcam’s and [its] subsidiaries’ financial functions.’
René added: ‘I have had a fantastic journey, being part of the team building Arcam during those 16 years. Today, Arcam is well positioned, with a great team, world-class products, strong leadership in our companies and a strong cash position after the recently concluded share issue. With GE as majority owner, this is a good time for me to move on and for a new CEO to take over and develop the company in the new environment.’