3D Systems Corporation (NYSE:DDD) has named three-decade tech industry veteran Ted Hull as its new chief financial officer (CFO). The 3D printing leader said Mr Hull joins the company in the interim as EVP-Finance. On Nov.11, he will succeed current CEO Damon Gregoire as CFO. Gregoire will take the role of EVP-Mergers & Acquisitions.
3D Systems’ new CFO has an impressive track record
3D Systems CEO Avi Reichental said in a statement that Ted Hull brings an “impressive financial and business leadership experience” to the Rock Hill-based company. Before joining 3D Systems, Mr Hull served as the CFO of Fusion-io, until it was acquired by SanDisk Corporation (NASDAQ:SNDK). Before that, he worked at Cisco for six years as VP-Finance. Hull has also worked at IBM for 17 years.
On March 31, Gregoire announced that he would transition out to assume the role of EVP of M&A. The move shocked the Wall Street, and investors feared that he was transitioning due to underlying trends at 3D Systems. However, Gregoire later revealed that his decision was based on “personal matters.” he has served as CFO of the company since 2007.
Mark Wright is 3D Systems’ new COO
Damon Gregoire will lead 3D Systems’ M&A activities through December 2015 before retiring from the company. But he has agreed to act as a non-employee consultant until December 2016. Late last month, 3D Systems hired Mark Wright as its new chief operating officer. Wright has worked at EMC Corporation for more than 18 years.
3D Systems is scheduled to release its Q3 results on Nov.10. These are unlikely to be any big surprises as the company has already warned investors of poor results. The 3D printing company said that its third-quarter revenue would come between $164 million and $169 million, missing the consensus estimate of $186.2 million. Non-GAAP earnings are likely to come in between 16 cents and 19 cents, lower than the Wall Street estimate of 21 cents. 3D Systems said its direct metal printers faced production constraints, that will largely be responsible for its weak performance.
3D Systems shares inched up 0.27% to $37.63 at 11:47 AM EST on Tuesday.
