Protolabs Appoints Oleg Ryaboy as New Chief Technology Officer

Rhea-AI Summary

Protolabs (NYSE: PRLB) has appointed Oleg Ryaboy as the new Global Chief Technology Officer, effective September 9, 2022. Ryaboy brings over 12 years of experience from Digital River, where he served as CTO and transformed the company's platform with artificial intelligence and machine learning. The leadership change aims to strengthen Protolabs' position in digital manufacturing, particularly following the launch of a new e-commerce platform and a distributed supplier network. CEO Rob Bodor expressed confidence in Ryaboy's ability to guide the company's future.

Positive

• Appointment of Oleg Ryaboy as Global Chief Technology Officer expected to strengthen leadership.
• Ryaboy's experience in AI and digital transformation could enhance Protolabs' e-commerce capabilities.
• New e-commerce platform and supplier network might improve operational efficiency.

Negative

• Concerns about continuity and potential experience gaps in leadership transition.

MINNEAPOLIS--(BUSINESS WIRE)-- Protolabs (NYSE: PRLB), a leading online and technology-enabled manufacturer, today announced Oleg Ryaboy as its new Global Chief Technology Officer effective September 9, 2022.

“After an extensive search we’re extremely excited to welcome Oleg to our leadership team,” said Rob Bodor, CEO and President at Protolabs. “With an all-new e-commerce platform and the addition of a distributed network of suppliers, we’re entering the next chapter of digital manufacturing. I’m confident Oleg’s experience and expertise will help guide us into the future.”

Ryaboy joins the digital manufacturer after more than 12 years as a technology leader at Digital River, a global e-commerce platform and software-as-a-service company providing online storefronts for businesses like Nvidia, Microsoft, Autodesk, and many others. During his tenure at Digital River, he served as CTO and Senior Vice President where he transitioned most of the company’s platform to independent services to accelerate development, and he introduced artificial intelligence and machine learning to core business functions, among other accomplishments.

“There is so much opportunity with an innovative company like Protolabs, which has architected the foundation for digital manufacturing,” said Ryaboy. “But like most software-driven companies, evolution is constant. I’m ready to help Protolabs continue redefining how manufacturing looks in the industry and what is possible for product developers around the world.”

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/20220908005840/en/

Investor Relations Contact

Ryan Johnsrud

Manager – Investor Relations and FP&A, Protolabs

ryan.johnsrud@protolabs.com

612-225-4873

Media Contact

Brent Renneke

PR + Media Strategist, Protolabs

brent.renneke@protolabs.com

763-479-7704

Source: Proto Labs, Inc.

FAQ

What is the significance of Oleg Ryaboy's appointment at Protolabs?

Oleg Ryaboy's appointment as Global Chief Technology Officer is significant as he brings extensive experience from Digital River, which may enhance Protolabs' digital manufacturing capabilities.

When did Oleg Ryaboy start as the Global Chief Technology Officer of Protolabs?

Oleg Ryaboy officially started his role as Global Chief Technology Officer on September 9, 2022.

How might Ryaboy's experience affect Protolabs' future?

Ryaboy's expertise in artificial intelligence and digital transformation is expected to positively influence Protolabs' approach to e-commerce and product development.

What challenges might Protolabs face with the new leadership?

With the transition in leadership, Protolabs may face challenges related to continuity and potential experience gaps during the adjustment period.