After a tumultuous couple of years on the 3D printing roller coaster, 3D Systems has shaken up its management quite significantly. The process started last October when Avi Reichental stepped down as CEO of the company. He was ultimately replaced by former HP executive, Vyomesh Joshi, who took the reins after working over 30 years with the tech giant. Now, according to a Form 8-K filing with the SEC, two more executives are stepping down from 3D Systems.
The filing declares that Mark Wright, executive vice president and chief operating officer, and Cathy Lewis, executive vice president and chief marketing officer, will both be relinquishing their roles at 3D Systems. While Lewis will step down on June 10, Wright will leave on June 17. The filing does not disclose any compensation for the two executives, but subsequent documents may.
Lewis joined the company in 2009, after 3D Systems’ acquisition of assets and personnel from the defunct UK firm, Desktop Factory. There she served as CEO of the company, as it worked to manufacture a 3D printer that would cost less than $5,000. Wright left Lenovo in 2014, where he had previously served as the senior vice president of business development and operations. 3D Systems has yet to make a formal announcement about the departure of the two executives.
The news comes on the heels of an announcement by Stratasys, 3D Systems’ leading rival, that CEO David Reis would be retiring. With Joshi taking over as CEO, there was bound to be some change in management, particularly given the overall reduction in operations and the financial losses the company reported in Q1 FY 2016. Whether or not the shake-up will allow the former 3D printing leader to bounce back among new entrants like HP remains to be seen.