Critical Analysis: 3D Systems
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Earlier this year, just before the onset of COVID-19 lockdowns, CEO of 3D Systems (DDD), Vyomesh Joshi, announced his plans to retire. Joshi’s departure came at a critical time for the additive industry, a time when good leadership could be the difference between weathering a storm or dwindling into irrelevance.
With Joshi’s departure, 3DS seemed sure to get a new direction. During its second quarter earnings release/ company financials presentation, new 3DS CEO Jeffrey Graves presented a strategic reorganization and direction change for the company. Unfortunately this news also came with the announcement of a 20 percent reduction in workforce for the company.
3D Systems now has its second new CEO in four years, with as many strategy shifts and corporate visions in the same period. In this piece, I will explore the strategic evolution of 3DS, what went right, what went wrong, and how well we might expect the new vision to work. We’ll throw in some suggestions on how to right the ship for good measure.
The 2016 Strategic Realignment and Why it Failed
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