ProtoLabs Inc. has named Suresh Krishna as its new president and chief executive officer.
Suresh Krishna, CEO, Protolabs
Krishna, 56, succeeds Rob Bodor, who will remain with the company in a consulting capacity. Krishna will also join Protolabs’ board of directors.
With over three decades of leadership experience, Krishna most recently served as president and CEO of Northern Tool + Equipment from April 2020 to November 2024. His career includes senior roles at Sleep Number Corp., Polaris Inc., UTC Fire & Security, and Diageo. There, he earned a reputation for driving operational transformations, optimizing supply chains, and cultivating customer-centric cultures.
“We are excited to welcome Suresh to the Protolabs team,” said Rainer Gawlick, chairman of the board. “His expertise in operational efficiency and growth will be invaluable as we scale our production capabilities, strengthen customer relationships, and explore new opportunities in the digital manufacturing sector.”
About the new Protolabs CEO
As part of his appointment, Krishna has signed an executive employment agreement with Protolabs, based on filings the U.S. Securities and Exchange Commission. The agreement has a three-year term with automatic one-year extensions unless he provides notice of non-renewal. It includes the following compensation package:
- An annual base salary of $800,000
- A target cash incentive bonus equal to 100% of his base salary
- Participation in the company’s employee benefit plans
- Equity awards are valued at $2.8 million, including restricted stock units (RSUs), stock options, and performance stock units (PSUs)
Following his departure from the CEO role, Bodor entered into a consulting agreement with Protolabs on May 28, based on filings the SEC. Under the terms of the agreement, Bodor will provide transitional services for a monthly fee of $5,000 through Nov. 11, 2025, contingent on his signing a waiver and release of claims.
Protolabs reported first-quarter 2025 revenue of $126.2 million, down 1.3% from $127.9 million in Q1 2024. The decline was driven by continued weakness in prototyping demand, particularly in 3D printing, although growth in production manufacturing and CNC machining partially offset the downturn. The company has reaffirmed its second-quarter 2025 revenue guidance by projecting revenues between $124 million and $132 million.
The leadership transition at Protolabs signals a shift in strategy as the company looks to expand its digital manufacturing platform and strengthen its position in the rapidly evolving industry. Krishna’s appointment is expected to drive operational improvements and enable Protolabs to capitalize on emerging opportunities within the digital manufacturing space.
Sign up
Sign up for a complimentary subscription to Digital Commerce 360 B2B News. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at [email protected]. Follow him on Twitter @markbrohan. Follow us on LinkedIn, X (formerly Twitter), Facebook and YouTube.
Favorite