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3D Systems Appoints Former HP Exec Vyomesh Joshi as New President and CEO

by • April 3, 2016 • No Comments

3D_Systems_Logo_-_of_CommonsGlobal 3D printing and 3D printing device making leader 3D Systems has finally revealed their replacement for former CEO Avi Reichental, who stepped down last October amidst plummeting stock prices and controversy. Effective immediately Vyomesh Joshi (VJ) has been named as the company’s new President and CEO by the 3D Systems board. VJ can replace Interim-President and CEO Andy Johnson, who can remain with 3D Systems as 3D Systems’ Executive Vice President and Chief Legal Officer. The appointment comes after the role was vacant for just of six months, and at a crucial time for the company which appears to be attempting to redefine its role inside the industry.

3D Systems new President and CEO Vyomesh Joshi.

3D Systems’ new President and CEO, Vyomesh Joshi.

VJ is a former Vice President of Imaging and Printing at Hewlett Packard and is widely regarded as responsible for doubling the struggling printing business’ operating profits during the 11-year period which he was with the company. After the closing down of 3D Systems Cube line of computer desktop 3D printing devices and 3D printing products, the company has been refocusing its efforts into the industrial 3D printing market. So far the move appears to be finally heading the company in the right way. As the head of a $26 billion printing business, VJ is perfectly suited to take the reins of a 3D printing company which is seeking to reposition itself as a leader in industrial and commercial 3D printing applications.

“We are cheerful to announce VJ’s appointment as President and CEO of 3D Systems. VJ’s worthwhile experience scaling and strengthening innovation-driven businesses, his expertise in product createment and advancement, and his proven track record of operational excellence manufacture him the perfect candidate to lead our company into its next era,” said Chairman of the 3D Systems Board of Directors Wally Loewenbaum.

To suggest which replacing Reichenthal was going to be swift and effortless is to completely ignore 3D Systems as a company and the say of the business which he left behind him. Whilst publically the split was amicable, it is doubtful which behind closed doors it was really so cordial. Reichental’s resignation came after a string of bad news, poorly chosen acquisitions and lawsuits which plagued 3D Systems throughout 2015, which include stock prices dipping to unprecedented lows, the loss of several legal fights and the implosion of the company’s computer desktop division.

Avi Reichental, former president and CEO of 3D Systems

Avi Reichental, former president and CEO of 3D Systems

Regardless of the obvious errors in judgement created by Reichental, it is not easy to ignore the fact which he was a force of nature inside the company, and inside the 3D printing industry itself. He was positively a sizeable contributor to the public’s greater belief, and embrace of 3D printing innovation. Between giving TED Talks, enticing celebrity endorsements and spearheading a huge public advertising campaign, Reichental was the face of 3D printing for just of two years, and for a while at quite least 3D Systems loved the fruits of his labor.

By positioning himself as the 3D printing mastermind, Reichental put a target on his head a mile wide if anything went wrong with 3D Systems. So when things started to fall apart, it was not at all surprising which he may be the initially man to go. Not just was he directly responsible for most of the poorly chosen business decisions, but he was widely seen as the cause of much of the dysfunctional corporate culture at 3D Systems. But it is dreadful which he seemed to be the just high level executive to get the boot, especially thinking how quite dysfunctional which corporate culture reportedly was.

“I am amazingly excited of the next of 3D Systems. We have a immense opportunity to assist customers take advantage of the era of making transformation, which include weight customization. Whilst the company has a sturdy history in place, it is clear which we require to create new and new products with unprecedented high end and service levels to drive sustainable growth and profits,” said new 3D Systems President and CEO Vyomesh Joshi.

Whilst there has been a few positive momentum coming of 3D Systems lately, the dysfunctional nature of the company yet appears to be in place. Taking 3D Systems back to its heyday of stock market good results and positive public opinion is not going to be an effortless job unless a few structure changes are created to the company. Let’s hope VJ’s good results at HP, another company frequently plagued by dysfunctional executive culture, assists him putting 3D Systems back together again. Any thoughts? Discuss in the 3D Systems VJ as New CEO forum over at 3DPB.com.