Velo3D CEO Benny Buller steps down, announces review of alternatives

Velo3D announced that Benny Buller has stepped down as the company’s CEO at the request of the company’s board of directors, effective immediately. Buller will remain a member of the company’s board of directors. The board of directors has appointed Brad Kreger as interim CEO, effective December 18 and the company has commenced a search for a permanent CEO. Kreger has been executive VP of operations at the company since December of 2022. Prior to Velo3D, he has held various executive positions overseeing, and rapidly scaling, manufacturing operations at a number of early and mid-stage companies including tenures at Affymetrix, Thermo Fisher Scientific, and Fluidigm Corporation. Additionally, the board of directors has commenced a strategic business review process to explore alternatives in order to maximize shareholder value. Potential strategic alternatives to be explored or evaluated may include, but are not limited to, a strategic transaction, potential merger, business combination or sale. There can be no assurance that the Company’s strategic review process will result in any transaction or other strategic outcome. The company does not expect any impact on its operations or its ability to serve its customers during the review process.