3D Systems will have known two main leading faces in its history: Avi Reichental and Vyomesh Joshi. The current President and CEO Vyomesh Joshi aka VJ has announced plans to retire.
Joshi joined 3D Systems in April 2016. He is 65 today and under his leadership, the company has stabilized financially, significantly improved product quality and re-invigorated innovation across its portfolio of 3D printing hardware, materials, software and services. The company has been able to take digital manufacturing solutions from prototyping to production.
“On behalf of the board of directors, I want to personally thank VJ for his accomplishments at 3D Systems. He is a pioneer and a visionary in digital manufacturing solutions and he has led this company through a vital phase,” said Charles (Chip) McClure, Chairman of the Board of Directors. “I have such great respect for him and his career. He is a man of integrity and I am grateful to have served alongside him.”
Immediately after receiving his decision, the Board of Directors has initiated a search for his successor. The company is partnering with executive search firm Spencer Stuart to conduct a search for Joshi’s successor. In the meantime, Joshi will continue to serve in his current role until a new CEO is appointed and will then transition to be a strategic advisor to the company.
“A lot of personal reflection and discussion with the Board have gone into my decision. The deciding factor was our full confidence that 3D Systems is ready for the next level,” Joshi said. “We are poised for growth and we have built a great team, a strong culture and a powerful portfolio. I am honored to have led 3D Systems through such a pivotal stage and position the company for profitable growth in its next chapter.”
Last week, the company announced it plans to hold a conference call and simultaneous webcast to discuss its financial results for the fourth quarter and full year 2019 on Wednesday, February 26, 2020, at 4:30 p.m. Eastern Time. For the fourth quarter of 2019, the company anticipates revenue will be in the range of $163 million to $165 million.
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