CHARLOTTE, N.C. - Dentsply Sirona Inc. (NASDAQ:XRAY), the world's largest manufacturer of professional dental products and technologies, announced today that Eric K. Brandt, its long-serving Chairman of the Board, will retire at the company's annual meeting in May 2024. Brandt, who has been with the company for nearly two decades, has chosen not to stand for re-election.
During his tenure, Brandt has played a crucial role in guiding the company through various challenges and has been a part of the team that worked to build a strong and diverse Board. Reflecting on his time at Dentsply Sirona, Brandt expressed gratitude for working with talented individuals and conveyed his confidence in the Board's future success.
Gregory T. Lucier, Non-Executive Chairman of the Board, acknowledged Brandt's dedication and significant contributions to the company. Lucier extended the Board's appreciation for Brandt's years of service and wished him well for his future pursuits.
Dentsply Sirona has been a pioneer in the dental industry for over a century, offering a wide range of dental and oral health products, as well as consumable medical devices. The company is known for its commitment to innovation, quality, and effective solutions that enhance patient care and promote safer dental practices.
This announcement is based on a press release statement issued by Dentsply Sirona.
InvestingPro Insights
As Dentsply Sirona Inc. (NASDAQ:XRAY) prepares for a change in leadership with the retirement of its Chairman Eric K. Brandt, investors may be considering the company's financial stability and market performance. According to InvestingPro data, Dentsply Sirona has a market capitalization of $7.05 billion, with a trailing twelve months revenue of $3.936 billion as of Q3 2023. Despite a slight revenue decline of -2.62% in the same period, the company boasts a robust gross profit margin of 52.97%, underscoring its ability to maintain profitability in its operations.
InvestingPro Tips reveal that management's confidence in the company's future is demonstrated through aggressive share buybacks and a consistent dividend policy, having raised its dividend for five consecutive years. Additionally, the company has maintained dividend payments for an impressive 30 years, with a dividend yield of 1.68% as of the last recorded date, and a notable dividend growth of 12.0% in the last twelve months.
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