How well has 3D Systems' performed under Joshi's leadership?
after Hewlett-Packard split into two companies. The extreme focus on "buying" revenue probably resulted in top management not devoting enough time to nurturing the company's existing businesses.Īs to Joshi's background, he had a 30-plus-year career at the former Hewlett-Packard, culminating in leading the company's imaging and (2D) printing business for 11 years through 2012. That business became a part of HP Inc. It's been speculated that a main reason that he was let go stems from the company's acquisition spree during the last few years of his tenure. It was widely believed at the time that Reichental was fired by 3D Systems' board. Joshi's tenure began in April 2016, about five months after the company's longtime former CEO Avi Reichental abruptly left. Moreover, it's not uncommon for one CEO to be brought in to help stabilize a troubled company and another one then hired to lead during the next phase. The press release does mention his age, which is typical retirement age, so he simply may be ready to leave the workaday world. It's probably safe to say, however, that he wasn't outright fired, as he'd almost surely be gone as soon as the decision and announcement were made. We can't know if Joshi's retirement was entirely his decision or if he was nudged along by the board. (During that time, 3D Systems Chief Legal Officer Andrew Johnson was the interim CEO.) The company operated without a permanent CEO for about five months until Joshi came on board in April 2016. How long it will take to find a new leader is anyone's guess, though at least several months seems probable. He will then "transition to be a strategic advisor to the company." Joshi will continue in his roles as president, CEO, and board member of the South Carolina-based 3D printing company until a successor is selected, according to the press release. 3D Systems' C-suite has had a revolving door in recent years.
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