Proto Labs CEO Vicki Holt will retire on March 1 and will be succeeded by Robert Bodor, the company's general manager of the Americas, the company said on Monday.

Bodor joined Proto Labs in 2012, also serving as chief technology officer and leader of the Maple Plain-based contract manufacturer's business development and product development functions.

"Rob has been instrumental in building Proto Labs into what it is today," Holt said in a statement. "Rob is a very strategic business leader and a great leader of people. His passion and commitment will continue to serve Proto Labs well."

She said Bodor was instrumental in more than doubling the revenue of the Americas' business since he took charge of it in 2015 and also moving the company into 3-D printing and sheet metal fabrication.

Bodor said he looks forward to his new role.

"I am excited about Proto Labs' future and what we can accomplish," he said. "My commitment is to inspire our incredible team of employees and deliver value for our customers and shareholders."

Holt has been CEO for the past seven years and will remain on the board until May 2021.

During Holt's leadership, the company's revenue increased by more than 165% and market capitalization grew by more than $1.8 billion, said Archie Black, chairman of Proto Labs' board of directors.