CHARLOTTE, N.C. - Dentsply Sirona Inc. (NASDAQ:XRAY), the world's largest manufacturer of professional dental products and a $3.94 billion market cap company, announced today that Herman V. Cueto has been named as the Interim Chief Financial Officer. According to InvestingPro data, the company faces near-term challenges with its stock down 43% year-to-date, though analysts project a return to profitability this year. Cueto, who has more than 20 years of experience in the healthcare finance sector, steps into the role with immediate effect.
The company's President and CEO, Simon Campion, expressed confidence in Cueto's ability to guide the finance team while they continue the search for a permanent CFO. Campion highlighted Cueto's extensive financial knowledge, operational expertise, and understanding of the global healthcare industry as vital attributes that he brings to the interim position. This appointment comes at a crucial time, as InvestingPro analysis suggests the stock is currently undervalued, with significant potential for recovery.
Cueto's recent tenure includes serving as Executive Vice President and CFO at Azenta Life Sciences since October 2023. His career also includes significant roles at Becton, Dickinson and Company, where he was involved in business planning and analysis and operations after the firm acquired C. R. Bard. Cueto held various leadership positions at Bard for 14 years and was the Group CFO at the time of its acquisition by BD.
A Certified Public Accountant, Cueto holds degrees from Fairleigh Dickinson University and an MBA from Seton Hall University.
Dentsply Sirona, headquartered in Charlotte, North Carolina, has been serving the dental industry and patients worldwide for over a century. The company's commitment to innovation and quality is reflected in its wide range of dental and oral health products, backed by a strong dividend history of 31 consecutive years of payments. The appointment of Cueto as interim CFO is expected to maintain the company's strategic financial direction during this transitional period. For deeper insights into Dentsply Sirona's financial health and growth prospects, investors can access comprehensive analysis through InvestingPro's detailed research reports, available for over 1,400 US stocks.
This announcement is based on a press release statement from Dentsply Sirona.
In other recent news, DENTSPLY SIRONA (NASDAQ:XRAY) reported mixed results for its third-quarter earnings. The company saw a modest organic sales increase of 1.3%, bringing in $951 million in revenue, largely due to distributor orders. However, when excluding these factors, organic sales saw a slight decline of 0.8%. In addition, DENTSPLY SIRONA announced a voluntary suspension of sales and marketing for its Byte aligners and impression kits, resulting in a $500 million non-cash goodwill impairment charge and a decrease in EBITDA margins. Despite these challenges, the company's adjusted earnings per share rose by 3% to $0.50, bolstered by share repurchases. Analysts have noted the company's resilience amid these challenges, with strategic investments and operational efficiency measures in place. These recent developments suggest that DENTSPLY SIRONA is navigating its current landscape while preparing for future growth opportunities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.