3D printer manufacturer Velo3D announces changes to the management board

Velo3D, a metal 3D printer manufacturer, announced changes to the company’s leadership structure and stated that initiatives to realign the company to maximize cash flow and operational efficiency remain on track.

The company announced the appointment of Hull Xu as the new Chief Financial Officer (CFO), replacing the current acting CFO Bernard Chung. Chung will leave Velo3D on April 29, 2024 to take on a new professional challenge. Xu brings over 15 years of financial experience in the technology industry, most recently as CFO at Cepton, Inc. He also has extensive experience in capital markets and investment banking at Royal Bank of Canada, Barclays Capital and GE Capital. In his new role at Velo3D, he will be responsible for finance, accounting, treasury, corporate development and investor relations.

“We are excited to announce the appointment of Hull as Chief Financial Officer. He is a highly accomplished financial executive who brings more than 15 years in financial, operating and capital market experience to Velo3D and his knowledge will be critical in the execution of our strategic priorities,” said Brad Kreger, CEO of Velo3D. “I would also like to thank Bernie for his dedication and guidance, especially over the last 6 months, as we positioned the Company for future success and wish him the best of luck in his future endeavors.”

In addition, Michelle Sidwell, previously Executive Vice President of Global Sales and Business Development, has been appointed Chief Commercial Officer. In this newly created position, she will be responsible for the company’s sales, product strategy and customer service.

“Additionally, we are also pleased to announce the appointment of Michelle Sidwell as our Chief Commercial Officer. Michelle has been instrumental in rebuilding our bookings pipeline in addition to working tirelessly to improve the success of our customers. We believe that by combining all customer facing responsibilities into one organization, we will improve organizational efficiency, accelerate our ability to respond to customer feedback and provide a comprehensive go to market approach”, said Kreger.

“Overall, I am very pleased with our strategic initiative execution so far this year. We are successfully rebuilding our backlog and pipeline as we booked $27 million in new orders since mid-December 2023. Also, our efforts to improve system reliability are paying off as we are seeing increased orders from existing customers while rapidly expanding our footprint in the defense sector. Finally, we are continuing to execute on our cost realignment programs to improve margins and cash flow.”