3D Systems has named Vyomesh Joshi as its new president and chief executive officer.
He succeeds Avi Reichental, who stepped down from the company in October. Andy Johnson has been the interim president and CEO. He remains as the company’s executive vice president and chief legal officer.
3D Systems headquarters are in the Waterford Business Park in Rock Hill. The company moved its headquarters to Rock Hill in 2006. The company also has some manufacturing at its Rock Hill facilities.
Joshi comes to 3D Systems from Hewlett-Packard, where he doubled the company’s printing business’ operating profits during an 11-year period.
Joshi is known for being a transformational and highly engaged leader with experience in developing and managing a broad product portfolio, according to a 3D Systems press release.
“I am incredibly excited about the future of 3D Systems,” Joshi said in the release. “We have a tremendous opportunity to help customers take advantage of the era of manufacturing transformation, including mass customization.
“While the company has a strong history in place, it is clear that we need to develop new and innovative products with unprecedented quality and service levels to drive sustainable growth and profits.”
3D Systems provides 3D products and services, including 3D printers, print materials, on-demand manufacturing services and digital design tools. The company was once the darling of the 3D printing industry, touted as the next big thing, allowing people to print everything from cars to chocolates.
The past two years have been tumultuous for the company, with stock values falling and investors raising questions about the viability of the company and consumer 3D printers.
3D stock closed at $15.74 a share Tuesday. Over the past 52 weeks it has been as low as $6 and as high as $32.88.