PRLB - 3D Systems Just Got a New CEO; Is He Up to the Challenge?
3D Systems' (NYSE: DDD) investors can probably relate to Bill Murray's character in the movie Groundhog Day. Rather than reliving the same day over and over, they've been reliving changes in the 3D printing company's C-suite over and over again.
On Tuesday, 3D Systems' new CEO, Jeffrey Graves, took the reins from Vyomesh Joshi, who reportedly notified the board in February that he planned to retire as soon as a successor was hired, or by year's end at the latest.
Joshi held the top spot for four years. That's not such a bad tenure for a CEO of a company in turnaround mode. However, now the company is again searching for a permanent CFO, less than nine months after its last financial leader came on board. Frequent turnover at high levels is costly for companies, so should be viewed by investors with a critical eye.