ROCK HILL, S.C., Feb. 06, 2020 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) today announced that President and CEO Vyomesh (VJ) Joshi, 65, has notified the Board of Directors of his decision to retire and the Board has initiated a search for his successor. 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. The company is partnering with executive search firm Spencer Stuart to conduct a search for Joshi’s successor.
“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.”
Joshi joined 3D Systems in April 2016. 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 to take digital manufacturing solutions from prototyping to production.
“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.
About 3D Systems
More than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading digital manufacturing solutions company, it empowers manufacturers to create products and business models never before possible through transformed workflows. This is achieved with the Company’s best-of-breed digital manufacturing ecosystem - comprised of plastic and metal 3D printers, print materials, on-demand manufacturing services and a portfolio of end-to-end manufacturing software. Each solution is powered by the expertise of the company’s application engineers who collaborate with customers to transform manufacturing environments. 3D Systems’ solutions address a variety of advanced applications for prototyping through production in markets such as aerospace, automotive, medical, dental and consumer goods. More information on the company is available at www.3dsystems.com.
