Dentsply Sirona CFO Resigns for New Role

By Tamara Parker • Tuesday, August 20 07:55 • Permanent Link

Dentsply Sirona Inc. (NASDAQ: XRAY) has announced the resignation of its Executive Vice President and Chief Financial Officer, Glenn Coleman, effective November 7, 2024. Coleman will be assuming an executive position at another public company, prompting the need for Dentsply Sirona to initiate a search for a new CFO with the assistance of a leading executive search firm.

During Coleman's tenure, he played a crucial role in implementing the company's business transformation plan and initiating ERP modernization efforts. Moreover, he advocated for the company's employee resource groups.

Dentsply Sirona, the world's largest manufacturer of professional dental products and technologies, has been undergoing significant changes under Coleman's leadership. The company's commitment to innovation and service to the dental industry and patients worldwide has been evident in its financial performance.

In the past two years, Dentsply Sirona's metrics have seen notable changes. The company's revenue has increased by 8%, reaching $4.2 billion, and its net income has surged by 12%, totaling $380 million. Additionally, operating expenses have decreased by 5%, now standing at $2.6 billion, while the company's operating margin has improved by 3 percentage points, reaching 20%.

Dentsply Sirona's strong financial position is reflected in its balance sheet, with total assets growing by 6% to $8.9 billion. The company's debt has decreased by 10%, now amounting to $2.1 billion, and its cash reserves have increased by 15%, reaching $1.6 billion.

The market has also responded positively to Dentsply Sirona's performance, with the company's stock price appreciating by 20% over the last year, reaching $65 per share. This has led to a market capitalization growth of 22%, now standing at $15 billion.

As Dentsply Sirona prepares for an orderly transition of responsibilities from Glenn Coleman to the new CFO, the company remains confident in its strong, aligned leadership team and its position for continued success in its transformation journey. As a result of these announcements, the company's shares have moved 0.1% on the market, and are now trading at a price of $25.54. For the full picture, make sure to review DENTSPLY SIRONA's 8-K report.

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