The financial director of 3D Systems resigns – the vice president of the company will temporarily take over his position

The fiasco of talks on the merger of 3D Systems with Stratasys is starting to take its first toll. Michael Turner – the current CFO of 3D Systems, announced his resignation on October 15, 2023 to take up a new position in another company. Andrew Johnson, executive vice president of 3D Systems and chief corporate development officer and chief legal officer, has been named interim chief financial officer.

Turner had been with 3D Systems for just over a year and was directly involved in talks regarding the company’s merger with Stratasys. On September 13, Stratasys officially announced the termination of further talks on this subject, at the same time pointing out numerous – in his opinion – weaknesses of 3D Systems and the presented merger offer. Despite pressure from key shareholders and independent advisors, he remains steadfast in his decision to merge with Desktop Metal. 3D Systems officially still hopes that the Desktop Metal takeover project will be rejected during the vote of Stratasys shareholders next Thursday, but Michael Turner’s decision to leave may indicate that at least he himself does not really believe in it…

Andrew Johnson serves as vice president of 3D Systems, as well as serving as the company’s chief corporate development officer and chief legal officer. He joined 3D Systems in July 2006 and held increasingly responsible positions in the corporate and legal departments, and even served as interim CEO from October 2015 to April 2016. Taking on further responsibilities – this time interim commercial director, so to speak that in fact he is a kind of “fireman” in the company’s corporate structures…

“I want to thank Michael (Turner) for his dedication and leadership in executing our financial transformation plan and improving operational performance during his service to the company,” said Dr. Jeffrey Graves, president and CEO of 3D Systems. “I wish Michael continued success in the very exciting opportunity he is taking on as the next chapter of his career. I am delighted that Andy (Johnson) will take over as interim CFO. I have worked side by side with Andy for the past three years and I expect this transition to be seamless as we continue to achieve our financial goals and begin the search for a permanent successor. “Andy is a seasoned executive with over 17 years of experience in a number of leadership positions, including corporate development and legal leadership.”

Source: www.3dsystems.com