Sirona + Dentsply = fail...all leaders fired Trump-style!

Discussion in 'Business Discussions' started by DMC, Oct 3, 2017.

  1. DMC

    DMC Scott Hudson


    Former Dentsply Sirona CEO Jeffrey T. Slovin, left, is seen with Executive Chairman Bret Wise. Slovin and Wise have resigned amid a leadership shakeup at the York-based manufacturer

    Dentsply Sirona: Chairman, CEO and COO resignStock price falls amid leadership transition
    By Dentsply Sirona added only that the moves were "intended to better position the company to achieve its potential," and that they "were not related to any issues or disagreements regarding the company's financial disclosures, accounting policies and practices."

    The company was created in 2016 by a merger of York-based Dentsply International and New York-based Sirona Dental Systems Inc., forming a $13.3 billion firm reputed to be the world's largest dental manufacturer of its type.

    Dentsply Sirona stock (NASDAQ: XRAY), which had closed at $59.81 on Friday, dropped sharply Monday morning, bottoming out at $56.13 before rebounding slightly. Its price stood at $56.53 at mid-afternoon on Monday.

    The company's board also:

    • Approved an amendment to corporate by-laws eliminating some provisions adopted as part of the merger, including supermajority voting requirements for corporate governance and executive leadership changes.

    • Removed the position of lead independent director.

    • Reduced the board from 11 to nine directors.

    The board also has initiated a search process to identify a permanent CEO and COO.

    Interim CEO Thierer previously served as chairman of the board and CEO of Catamaran, which was one of the nation’s largest pharmacy benefit management companies until it merged with OptumRx in 2015.

    Size served as senior vice president of Dentsply Sirona Inc. from January 2007 through June 2017, while Brandt has served as a director since 2004.
  2. DMC

    DMC Scott Hudson


    OK, they all quit and not fired. But forced to quit I am sure!
    So weird. Wonder what happened. Must be juicy.
    Got caught in an unusual circle-jerk session during work hours?
    Last edited: Oct 3, 2017
  3. jmn

    jmn Christian Member

    Too many lies, people start to get upset about that kind of thing after awhile.
    DMC likes this.
  4. dougola

    dougola Well-Known Member

    When you have accounting irregularities you have real problems
    jmn and DMC like this.

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