Markforged has announced the appointments of Aaron VanDevender to the Board of Directors and Board Chairman Alan Masarek to the Compensation Committee.
Kevin Hartz, meanwhile, has resigned from his position on the Board of Directors. This, similar to CFO Mark Schwartz’s departure last month, is not related to any disagreements concerning, operating, accounting or financial reporting matters, according to Markforged.
Earlier this year, Markforged received a non-compliance noticed from the New York Stock Exchange after its share value dipped below 1.00 USD for 30 consecutive days. The company was given six months to comply, with its share value closing at 1.00 USD on June 5. Though there have been changes at C-level and Board level since, Markforged has stressed that both the departure of Schwartz and Hartz were amicable.
“Thanks to Kevin, Markforged was able to get access to public capital markets and fund its accelerated innovation efforts,” commented Shai Terem, Markforged’s President and Chief Executive Officer. “Over the last two years Kevin also helped us navigate through a challenging macroenvironment while prioritising the organic and inorganic R&D investments that are powering our preparations for the biggest launch of products in our history. I am grateful to Kevin for lending his keen insight and unwavering support to Markforged since joining the Board. I wish him the best of luck in his future endeavours.”
Alan Masarek, Chairman of the Board offered, “On behalf of Markforged, we thank Kevin for all of his contributions to the company and wish Aaron a warm welcome to the Board.”
Terem added, “We are truly delighted to have Aaron join the Board at this pivotal time for Markforged. His deep understanding of foundational technology and proven ability from his time as Chief Scientist of the Founders Fund to identify products that can disrupt entire industries complements our existing Board. I look forward to having his insight and guidance to help Markforged execute our strategic plan.”