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    DENTSPLY SIRONA Inc (XRAY)

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    Business Description

    DENTSPLY SIRONA Inc. (XRAY) is the world's largest manufacturer of professional dental products and technologies, with a 137-year history of innovation and service to the dental industry. The company is committed to improving oral health and continence care globally by developing, manufacturing, and marketing comprehensive solutions. These include technologically advanced dental equipment supported by cloud software solutions, as well as dental products and healthcare consumable products in urology and enterology under a strong portfolio of world-class brands.

    1. Essential Dental Solutions - Develops, manufactures, and sells value-added endodontic, restorative, and preventive consumable products and small equipment used in dental offices.
    2. Orthodontic and Implant Solutions - Designs, manufactures, and sells digital implant systems, innovative dental implant products, digital dentures, and dental professional-directed aligner solutions.
    3. Connected Technology Solutions - Designs, manufactures, and sells dental technology and equipment products, such as imaging systems, CAD/CAM systems, and treatment centers, supporting digital workflows for dental procedures.
    4. Wellspect Healthcare - Designs, manufactures, and sells innovative continence care solutions for urinary and bowel management, primarily consisting of urology catheters and other healthcare-related consumable products.

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    Executive Team

    NamePositionStart DateShort Bio
    Simon D. CampionPresident and Chief Executive OfficerSeptember 12, 2022Simon D. Campion has over two decades of experience in the global healthcare field. He previously held executive roles at Becton, Dickinson and Company (BD). He holds a Ph.D. in Mechanical Engineering from the University of Limerick, Ireland, and an MBA from The Open University in the UK.
    Glenn G. ColemanExecutive Vice President, Chief Financial Officer (resigning 11/7/2024)September 2022Glenn G. Coleman has over 30 years of financial leadership experience. He previously served as EVP and COO at Integra LifeSciences and held roles at Curtiss-Wright, Alcatel Lucent, and PwC. He is a CPA and holds a B.S. from Montclair State University. He will resign effective November 7, 2024.
    Andreas G. FrankExecutive Vice President, Chief Business Officer (position eliminated)April 2022Andreas G. Frank has held leadership roles at Baxter International, Hill-Rom Holdings, Danaher Corporation, and McKinsey & Company. He holds master’s degrees in business administration and economics from the Otto Beisheim School of Management and the University of Texas at Austin.
    Andrea L. FrohningSenior Vice President, Chief Human Resources OfficerJuly 2023Andrea L. Frohning has over 25 years of HR experience across industries, including healthcare, manufacturing, and financial services. She previously served as CHRO at Premier Incorporated and Patterson Dental. She holds a Master’s in Human Resources and Industrial Relations from the University of Illinois.
    Robert (Tony) A. JohnsonChief Supply Chain OfficerNovember 2022Tony Johnson has extensive supply chain leadership experience, previously serving as President of Global Products and Supply Chain at Cardinal Health. He also held roles at Becton Dickinson/CR Bard and Baxter International. He holds a bachelor’s degree in industrial engineering from the University of Arkansas.
    Richard C. RosenzweigExecutive Vice President, Corporate Development, General CounselFebruary 2023Richard Rosenzweig has held senior legal roles at AngioDynamics, C. R. Bard Inc., and Johnson & Johnson. He holds a law degree from Boston University School of Law and a Bachelor of Arts in Psychology from Brandeis University.
    Richard M. WagnerChief Accounting OfficerAugust 15, 2022Richard Wagner has served as Chief Accounting Officer since 2022. He previously held accounting leadership roles at Hillrom Holdings, Cree, Inc., and Dentsply International. He is a CPA and holds a B.S. in Accounting from Penn State University.
    Marion Par-WeixlbergerVice President, Public Relations & Corporate CommunicationsN/AMarion Par-Weixlberger serves as Vice President, Public Relations & Corporate Communications. No additional biographical details or start date are provided.
    Andrea DaleyVice President, Investor Relations2021Andrea Daley has nearly 20 years of healthcare industry and corporate finance experience. She previously held leadership roles at McKesson Corporation and Cardinal Health, focusing on financial planning and business growth.

    Questions to Ask Management

    1. Given the sustained macroeconomic pressures and the $500 million goodwill impairment in the Orthodontic and Implant Solutions segment, what specific steps are you taking to turn around performance in this segment, particularly in the underperforming implants business?

    2. With the voluntary suspension of Byte operations and the potential discontinuation of this business, how do you plan to mitigate the impact on your top-line revenue and bottom-line profitability, and what are the long-term implications for your clear aligner strategy?

    3. Despite achieving $200 million in annualized savings from the first restructuring program and initiating a second phase targeting $80 million to $100 million in savings, earnings have remained flat year-over-year; can you explain why these cost savings have not translated into improved profitability, and how you plan to address this issue moving forward?

    4. Given the challenges in the U.S. equipment market and the continued pressure on elective procedures, how realistic is your goal to achieve growth in these areas, and what specific initiatives are in place to drive demand in a weak macro environment?

    5. Your SKU optimization efforts aim to eliminate non-revenue-generating SKUs by the end of this year and migrate most revenue-generating SKUs in 2025; can you provide more details on how this will positively impact financial performance and when we can expect to see these benefits reflected in your results?

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateNovember 7, 2023
    End Date/DurationNot specified
    Total additional amount$1.0 billion
    Remaining authorization amount$1.19 billion as of September 30, 2024
    DetailsNo specific end date or duration mentioned