SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of May 2018
Commission File Number 001-35751
(Translation of registrant’s name into English)
|c/o Stratasys, Inc.||2 Holtzman Street, Science Park|
|7665 Commerce Way||P.O. Box 2496|
|Eden Prairie, Minnesota 55344||Rehovot, Israel 76124|
|(Addresses of principal executive offices)|
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Resignation of CEO and Director
On May 29, 2018, Stratasys Ltd. (the “Company”) announced that Ilan Levin has stepped down from his positions as the Company’s Chief Executive Officer and Director, effective June 1, 2018. Mr. Elchanan (Elan) Jaglom, Chairman of the Company’s Board of Directors, will serve as Chief Executive Officer on an interim basis. Under Israeli law, Mr. Jaglom’s simultaneous service as Chairman and interim Chief Executive Officer will require shareholder approval that the Company will seek at an upcoming shareholders meeting, to be announced in the coming weeks. Mr. Levin will provide ongoing consultancy services to the Company following his resignation, as needed.
The Company’s Board of Directors has appointed an Oversight Committee to support the management of the Company during the interim period, until a successor is named. The committee is comprised of the Company’s Executive Director and Vice Chairman of the Board, David Reis, along with additional directors Scott Crump and Dov Ofer. The Company's Board of Directors has also established an Executive Search Committee, composed of Mr. Jaglom and Victor Leventhal, the Chairman of the Compensation Committee of the Company’s Board of Directors, to direct an international search for a new Chief Executive Officer.
A copy of the Company’s press release containing this announcement is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K (“Form 6-K”).
The information in this Form 6-K, excluding Exhibit 99.1, is incorporated by reference in the Company’s registration statements on Form S-8, SEC file numbers 333-185240, and 333-190963, filed by the Company with the SEC on December 3, 2012, and September 3, 2013, respectively, and shall be a part thereof from the date on which this Form 6-K is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|Dated: May 29, 2018||By:||/s/ Lilach Payorski|
|Title:||Chief Financial Officer|
The following exhibit is furnished as part of this Form 6-K:
|99.1||Press release dated May 29, 2018.|
Stratasys Announces Resignation of Ilan Levin as CEO and Director
Current Chairman to also serve as interim CEO; Special committee of Board to support management of
the Company until successor is appointed
Minneapolis & Rehovot, Israel, May 29, 2018 — Stratasys, Ltd. (Nasdaq: SSYS), a global leader in additive technology solutions, today announced that Ilan Levin has decided to step down from his positions as Chief Executive Officer and Director, effective June 1, 2018.
Elchanan (Elan) Jaglom, the Company’s current Chairman of the Board, will serve as CEO until a successor is appointed. Mr. Jaglom’s service in the positions of Chairman and CEO simultaneously requires shareholder approval in accordance with Israeli law. Stratasys plans to call a shareholder meeting to seek that approval. Mr. Levin will provide ongoing consultancy services to the Company following his resignation, as needed.
The Company’s Board of Directors has appointed an Oversight Committee to help support the management of the Company during the interim period, until a successor is appointed. The committee is comprised of the Company’s Vice Chairman of the Board, Executive Director and former CEO, David Reis, along with additional directors Scott Crump, previous Chairman and founder, and Dov Ofer.
The Company's Board of Directors also established an Executive Search Committee, composed of Mr. Jaglom and Victor Leventhal, the Chairman of the Compensation Committee of the Company’s Board of Directors, to oversee the engagement of an international executive search firm to help identify a new Chief Executive Officer.
“The Board of Directors is appreciative of Ilan’s contributions to Stratasys and Objet for over 15 years,” said Elan Jaglom, Stratasys’ Chairman of the Board. “Ilan has implemented a number of key decisions as CEO that have kept the Company strong and ready for future expansion. We thank Ilan for his dedicated leadership of our Company during this phase in Stratasys' history.”
Stratasys is a global leader in additive technology solutions for industries including Aerospace, Automotive, Healthcare, Consumer Products and Education. For nearly 30 years, a deep and ongoing focus on customers’ business requirements has fueled purposeful innovations — 1,200 granted and pending additive technology patents to date — that create new value across product lifecycle processes, from design prototypes to manufacturing tools and final production parts. The Stratasys 3D printing ecosystem of solutions and expertise — advanced materials; software with voxel level control; precise, repeatable and reliable FDM and PolyJet 3D printers; application-based expert services; on-demand parts and industry-defining partnerships — works to ensure seamless integration into each customer’s evolving workflow. Fulfilling the real-world potential of additive, Stratasys delivers breakthrough industry-specific applications that accelerate business processes, optimize value chains and drive business performance improvements for thousands of future-ready leaders. Corporate headquarters: Minneapolis, Minnesota and Rehovot, Israel. Online at: www.stratasys.com, http://blog.stratasys.com and LinkedIn.
Stratasys is a registered trademark and the Stratasys signet is a trademark of Stratasys Ltd. and/or its subsidiaries or affiliates. All other trademarks are the property of their respective owners.
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