3D Systems Corporation (NYSE: DDD) has appointed a new Chief Financial Officer (CFO). Ted Hull (who, to clarify, is no relation to the company’s founder) comes to 3DS with experience over three decades of financial leadership roles in prime technology companies that include players such as Cisco and IBM. Mr. Hull spent six years at Cisco as Vice President of Finance. Hull served as Vice President Finance and Chief Financial Officer at Maxtor. Most recently fulfilled the role of Executive Vice-President and Chief Financial Officer of Fusion-io.
Avi Reichental, 3D Systems’ President and Chief Executive Officer, announced: “We are privileged to welcome a person of Ted Hull’s impressive financial and business leadership experience to 3D Systems. Ted’s proven track record in integrating, scaling and fine-tuning high-growth tech companies is a tremendous asset to our company as we execute the next phase of our profitable growth strategy.”
Ted Hull succeeds Damon Gregoire, who transitions to Executive Vice President of Mergers and Acquisitions — an interim period will see Mr. Hull as Executive Vice President of Finance in Mr. Gregoire’s stead, before assuming his role of Chief Financial Officer fully next week. Mr. Gregiore has been a senior executive at 3D Systems since April 25th 2007 wherein he began the role that he is now to transition from.
The Forbes profile for Mr. Gregoire states that on the 28th of March this year 3DS entered into a transition agreement Pursuant to the Transition Agreement, and that the Company and the Executive have mutually agreed that the Executive will continue to serve the Company as its Senior Vice President and Chief Financial Officer through the date of the Company’s hiring of the Executive’s successor.
Reichental continued: “We are deeply grateful to Damon for his eight years of outstanding financial and operations leadership during a period of rapid growth and expansion. We are fortunate Damon is able to continue to contribute as a senior executive, while he attends to family healthcare needs.”
StreetInsider provides analysis by Sherri Scribner of Deutsche Bank: “Gregoire’s departure is a surprise, considering his age, 44. Gregoire has also been CFO of 3D Systems since 2007, steering the company through a number of new stock issuances and through multiple acquisitions. The transition creates some uncertainty given Gregoire has been one of the public faces of the company to investors, and has successfully led 3D Systems through various stock issuances and acquisitions. However, the 8K filing suggests that Gregoire’s decision to transition out of the CFO role was related to family health issues and therefore, we do not view the move as a substantial negative read on the company.”
That Mr. Gregoire is to transition from his role has been known for around half a year, and that Mr. Reichental has expressely articulated that the executive has reassigned because of non-work related personal concerns, and the very strong credentials of Mr. Hull will probably allay any potential investor apprehension.
