04-04-2016: Vyomesh Joshi was appointed CEO of 3D Systems
He succeeded Avi Reichental
On April 4, 2016, 3D Systems announced the appointment of Vyomesh Joshi as President and Chief Executive Officer (CEO). It was a pivotal moment for the company, which, after the brilliant yet turbulent tenure of Avi Reichental, needed to rebuild its reputation, market position, and internal structure. Joshi assumed the role of CEO following a six-month interim period during which Andy Johnson served in the position.
Vyomesh Joshi was an executive with over thirty years of experience in the technology sector, having spent many years at Hewlett-Packard. At HP, he led the Imaging and Printing division, where he successfully doubled operating profits over an 11-year period. Within the industry, he was regarded as a pragmatic leader and a restructuring specialist.
His appointment came at a challenging time—3D Systems was facing serious financial issues, controversial acquisitions, and reputational damage. Reichental’s departure, though officially described as a mutual decision, was widely seen as a necessary move after a series of strategic missteps—most notably, several failed acquisitions and investments, particularly in the consumer segment, symbolized by the collapsed Cubify line.
During his four-year tenure, Joshi focused on several key areas. First and foremost, he shut down the company’s consumer-facing operations and redirected focus toward professional and industrial applications. The company began redefining itself as a provider of high-quality solutions for industrial markets. He implemented an internal restructuring, cutting unnecessary costs and streamlining the product portfolio. Low-margin projects were discontinued, and a clearer, more coherent product strategy was introduced.
Joshi also heavily invested in the development of new technologies and platforms, including in the areas of metal printing and biocompatible materials. One of the most notable product launches during his leadership was the Figur 4 platform—a high-speed, high-efficiency photopolymer 3D printing technology that remains one of the company’s flagship offerings to this day.
In 2020, Vyomesh Joshi retired, concluding his time as CEO of 3D Systems. His departure occurred in a much calmer atmosphere than the one that preceded his arrival. Joshi accomplished his primary mission—he saved the company from gradual decline, stabilized its operations, and set a new course for future development. Notably, under his leadership, the company achieved its highest revenue in history in 2018, generating $692 million.
Source: www.reuters.com
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