3D Systems (NYSE: DDD), a leading provider of additive manufacturing solutions, today announced a leadership transition plan in which Dr. Jeffrey Graves will step down as President and Chief Executive Officer and retire from the Board of Directors. To support a seamless transition, Dr. Graves will continue to serve as President and Chief Executive Officer until a successor is appointed, which is expected to occur later this year.
Following his successor’s appointment, Dr. Graves will serve in a consulting capacity for six months to facilitate an effective transition.
The Board of Directors has initiated a comprehensive search process to identify the Company’s next President and Chief Executive Officer and has engaged an experienced executive search firm to lead this process. The Board remains focused on advancing the Company's strategic priorities and delivering long-term value for its shareholders.
Since joining 3D Systems in May 2020, Dr. Graves has led the Company’s transformation around its Healthcare and Industrial businesses, implemented meaningful cost reduction initiatives to improve operational efficiency and financial performance, and refined the Company’s strategic focus on high value growth markets, including Aerospace & Defense, Data Center Infrastructure, Med Tech, and Dental. These efforts helped strengthen the Company’s market positioning to support its long-term growth objectives.
DDD shares began Tuesday up 61 cents, or 21.6%, to $3.44.
