Two weeks after three-dimensional printing pioneer Stratasys (NASDAQ:SSYS) confirmed that it is buying smaller rival MakerBot in a $400 million deal, the company's new subsidiary is already cleaning house in preparation to receive its new owner.
On Monday, MakerBot announced that it has promoted Chief Strategy Officer Jennifer Lawton to the position of company president -- a move the company confirmed is "in conjunction with the acquisition announcement by MakerBot and Stratasys on June 19, 2013."
In making the announcement, MakerBot CEO and co-founder Bre Pettis called Lawton his "right hand," noting that "without Jenny we wouldn't be where we are today." Going forward, Lawton will be in charge of first overseeing the integration into Stratasys, and then "growing the company and managing a six-member leadership team managing products, sales, marketing, technology, finance, and manufacturing operations."
MakerBot says that after the acquisition is complete, it will continue to be run as an independent brand of Stratasys. Also, Pettis will continue to run the new Stratasys subsidiary.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Stratasys. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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