Protolabs Announces Departure of CFO John Way, Appoints Dan Schumacher Interim CFO

Rhea-AI Summary

Protolabs (NYSE: PRLB) announced the resignation of Chief Financial Officer John Way, effective November 30, 2021, to pursue another opportunity. Dan Schumacher, who has been with the company for four years and has led investor relations and FP&A, will assume the role of Interim CFO starting December 1, 2021. Protolabs' President and CEO, Rob Bodor, praised Way's contributions, highlighting the strong financial organization he built during his seven-year tenure. The transition aims to maintain stability as Schumacher collaborates with both Way and Bodor in the coming month.

Positive

• Dan Schumacher's promotion to Interim CFO may provide continuity and strong leadership during the transition.

Negative

• John Way's departure could raise concerns about potential leadership gaps and continuity in strategic financial direction.

MINNEAPOLIS--(BUSINESS WIRE)-- Protolabs (NYSE: PRLB), a leading online and technology-enabled, on-demand manufacturer, today announced John Way is resigning as Chief Financial Officer (CFO) to pursue an opportunity at another company. Way will continue in his role through November 30, 2021.

Dan Schumacher, Vice President of Investor Relations and FP&A, has been named Interim CFO effective December 1, 2021. Schumacher has been with Protolabs for four years leading the company’s investor relations and FP&A organizations, and has reported directly to Way since he joined the company in 2017. Schumacher will continue to work closely with Way and Rob Bodor, Protolabs’ President and CEO, over the next month to ensure a smooth transition.

“I want to thank John for his leadership at Protolabs. During his tenure John built a strong financial organization that will continue to serve us well in the years to come,” said Bodor.

“It has been a great pleasure to serve as CFO of Protolabs over the past seven years,” said John Way. “I have the utmost confidence in the company and I am grateful for having had the opportunity to work with the leading digital manufacturer in the industry.”

About Protolabs
Protolabs is the world’s leading provider of digital manufacturing services. The e-commerce-based company offers injection molding, CNC machining, 3D printing, and sheet metal fabrication to product developers, engineers, and supply chain teams across the globe. Protolabs serves customers using in-house production capabilities that bring unprecedented speed in tandem with Hubs, a Protolabs Company, which serves customers through its network of premium manufacturing partners. Together, they help companies bring new ideas to market with the fastest and most comprehensive digital manufacturing service in the world. Visit protolabs.com for more information.

Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical or current facts are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Protolabs to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are described in the “Risk Factors” section within reports filed with the SEC. Other unknown or unpredictable factors also could have material adverse effects on Protolabs’ future results. The forward-looking statements included in this press release are made only as of the date hereof. Protolabs cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Protolabs expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances. 

View source version on businesswire.com: https://www.businesswire.com/news/home/20211105005563/en/

Investor Relations Contact

Protolabs

Dan Schumacher, 763-479-7240

Vice President of Investor Relations and FP&A

daniel.schumacher@protolabs.com

Media Contact

Protolabs

Will Martin, 763-479-7719

Director of Marketing Communications

will.martin@protolabs.com

Source: Proto Labs, Inc.

FAQ

Who is the new Interim CFO of Protolabs?

Dan Schumacher has been named the Interim CFO of Protolabs, effective December 1, 2021.

Why did John Way resign from Protolabs?

John Way resigned to pursue an opportunity at another company.

What is the impact of John Way's resignation on Protolabs?

Way's resignation may raise concerns about continuity in leadership and strategic financial direction at Protolabs.

How long did John Way serve as CFO of Protolabs?

John Way served as the CFO of Protolabs for seven years.