Nano Dimension Ltd. (NASDAQ: NNDM) has appointed Nadav Kidron to its board of directors, where he will chair a newly formed Strategy and Capital Allocation Committee, according to a company statement.

The committee, part of an ongoing strategic review led by board Chairman Phillip Borenstein, will evaluate capital allocation alternatives, potential returns of excess capital to shareholders, monetization of non-core assets, and other strategic opportunities.

Kidron is the president and chief executive officer of Oramed Pharmaceuticals Inc. (NASDAQ: ORMP), which is described as a significant shareholder of Nano Dimension. He also serves on the boards of Alpha Tau Medical Ltd. (NASDAQ: DRTS) and Lifeward Ltd. (NASDAQ: LFWD).

During his tenure at Oramed, Kidron led a strategic repositioning that the company says grew Oramed's balance sheet from approximately $160 million to over $370 million.

Borenstein said in the statement that the board has been working to simplify the company and strengthen its financial position, adding that Kidron's experience and perspective as a shareholder would benefit the board.

Kidron said Nano Dimension has "a strong balance sheet and significant strategic flexibility" and that he looks forward to contributing his experience to the board.