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CHARLOTTE, N.C., US: John Groetelaars has been appointed interim CEO of Dentsply Sirona as part of a leadership reshuffle that included the immediate dismissal of Donald Casey as board member and CEO of the dental giant. Barbara Bodem was named as interim chief financial officer (CFO) and will succeed Jorge Gomez, whose previously announced departure is scheduled for 6 May.
The company made the announcements in a press bulletin and stated that it had initiated a search to identify its next CEO. Groetelaars recently joined Dentsply Sirona’s board of directors, and Eric Brandt, non-executive chairman of the board, stated that the company was pleased to name Groetelaars as interim CEO. “John has a strong track record of driving innovative business strategies, and as a seasoned executive with more than 30 years of industry experience, he is uniquely positioned to lead our company during this transition period,” Brandt said.
Commenting in the bulletin, Groetelaars said: “I joined the company’s board because of my deep appreciation for our mission and unwavering commitment to innovation, operational excellence and providing positive outcomes for patients and customers.” He added: “The board is confident that renewing the company’s focus on execution will stabilise the business and deliver strong performance despite ongoing macroeconomic challenges. This will be my focus from day one.”
Groetelaars was president, CEO and board member at the US medical technology provider Hillrom until the company was acquired by Baxter International in December last year. Prior to that, he served as executive vice president and president of the interventional segment at medical device company Becton, Dickinson and Company.
Brandt thanked Casey for his service, stating that he had played a key role in the strengthening of the company and that the board wished him well in his future endeavours.
Interim CFO Barbara Bodem working with Gomez for seamless transition
Bodem will join Groetelaars at the helm of Dentsply Sirona’s management. Her most recent role was also at Hillrom, where she served as senior vice president and CFO. Prior to that, Bodem held senior positions at pharmaceutical and healthcare companies.
Dental Tribune International (DTI) reported earlier in April that Gomez had resigned as CFO at Dentsply Sirona in order to assume the role of CFO at US biotechnology giant Moderna. Bodem will work closely with Gomez to ensure a seamless handover before his tenure ends on 6 May, at which time she will take on the role.
Brandt said of Bodem: “We are fortunate to welcome Barbara, a proven finance executive, as our interim CFO during this transition period. Barbara brings extensive expertise in healthcare with an international perspective, having served in multiple leadership roles across finance organisations at global companies. As we continue our search for a permanent CFO, we believe that Barbara and our talented financial team will continue to deliver value for our patients, business partners and shareholders.”
“[Renewing] the company’s focus on execution will stabilise the business and deliver strong performance despite ongoing macroeconomic challenges” – John Groetelaars, interim CEO, Dentsply Sirona
Dentsply Sirona cautioned in its press bulletin that results for the first quarter will represent a rare decline for the investor favourite. The publicly listed company said that it expects a year-over-year dip of 1.4% in organic sales for the three-month period owing to weaker sales in the US and supply chain challenges.
DTI reported in March that 2021 net sales at Dentsply Sirona for dental consumables and technology and equipment increased by 25.0% and 28.7% respectively and that the company posted total net sales of $4.251 billion (€3.753 billion). On an organic basis, this represented an increase of 24.6% compared with 2020.
Shares in Dentsply Sirona (Nasdaq: XRAY) fell by around 13% in morning trading on the day of the leadership announcements. A Wisconsin law firm is reportedly investigating claims of securities fraud related to Casey’s dismissal and the impact of this on the company’s business operations and prospects.