Breaking News

Tweet TWEET

Proto Labs Names Victoria M. Holt President and Chief Executive Officer

  Proto Labs Names Victoria M. Holt President and Chief Executive Officer

Business Wire

MAPLE PLAIN, Minn. -- February 6, 2014

Proto Labs, Inc. (NYSE: PRLB), a leading online and technology-enabled
quick-turn manufacturer, today announced the appointment of Victoria M. Holt
as President and Chief Executive Officer, effective today. Ms. Holt brings
more than 30 years of experience in leadership roles with Global Fortune 500
companies across a broad range of manufacturing, chemical and materials
industries. She replaces Bradley A. Cleveland, who announced his intention to
resign as CEO on October 31, 2013.

Most recently, Ms. Holt was President and Chief Executive Officer at Spartech
Corporation (NYSE: SEH), a publicly-held, leading supplier of sustainable
plastic sheet, compounds and packaging solutions, where she engineered a
turnaround which resulted in a 73% increase in operating earnings in just 2
short years. The turnaround led to the successful stock/cash sale of Spartech
to PolyOne Corporation (NYSE: POL) in March 2013, at a 56% premium when
announced and ultimately a 106% premium at closing. Prior to Spartech, she was
Senior Vice President, Glass and Fiber Glass, at PPG Industries, Inc., a
leading coatings and specialty products company. She also served in leadership
positions with Monsanto Company and its successor, Solutia, Inc. in various
management, sales, and marketing roles.

“Vicki’s track record of leading companies with large and diverse operations
while delivering profitable growth and shareholder value makes her an
excellent choice to lead Proto Labs. We are very excited to have Vicki on
Board. Her energy, enthusiasm and management style fit well with our culture
and we look forward to her leadership as we continue to grow the business to
ever higher levels,” commented Larry Lukis, Founder and Chairman of the Board
of Proto Labs.

“Based on years of experience in technology based manufacturing businesses, I
truly understand and appreciate the unique value Proto Labs delivers to its
customers. The value proposition to reduce time to market, , reduce risk of
new product introduction and reduce costs is incredibly powerful. Proto Labs
delivers this value with very impressive technology, operational excellence
and a full array of services for design engineers. I am excited to have this
opportunity to build upon the Company'smarket position and competitive
advantages to expand and broaden customer reach, as well as drive value for
Proto Lab shareholders,” said Ms. Holt. “The established and experienced
management team already in place presents an excellent opportunity for me to
quickly orient myself to a rich history of collaboration and leadership.”

Commenting on the departure of Brad Cleveland, Larry Lukis said, “On behalf of
the Board, I thankBrad for his contributions as CEO. His fantastic
organizational and team-building skills have made the Company what it is
today, and have enabled Proto Labs to consistently deliver value to
shareholders, customers, and partners. The Board has planned carefully for
this leadership transition and we are confidentthat the Company will continue
its growth momentum underVicki'sleadership. She has the complementary
experience to build on our accomplishments and leverageProto Labs’ strong
platform in the years ahead.”

About Proto Labs, Inc.

Proto Labs is a leading online and technology-enabled quick-turn manufacturer
of custom parts for prototyping and short-run production. Proto Labs provides
“Real Parts, Really Fast” to product developers worldwide. Proto Labs utilizes
computer numerical control (CNC) machining and injection molding to
manufacture custom parts for our customers. For more information, visit
protolabs.com.

Contact:

Proto Labs, Inc.
Investor Relations:
Jack Judd, 763-479-7408
jack.judd@protolabs.com
or
Media Relations:
Bill Dietrick, 763-479-7664
bill.dietrick@protolabs.com
 
Press spacebar to pause and continue. Press esc to stop.