Stanley M. Bergman to retire as Henry Schein CEO

NEW YORK, US: Dental massive Henry Schein has introduced that its long-serving CEO, Stanley M. Bergman, will retire on the finish of the yr, closing in his function as chairman of the board thereafter. Bergman, who has led Henry Schein for 35 years, is broadly thought to be synonymous with the corporate and is a a great deal admired determine around the international healthcare business. As Henry Schein starts the seek for a brand new CEO, the eye of observers is prone to stay fastened on possible successors.

Bergman joined Henry Schein in 1980 as the corporate’s first leader monetary officer. After the loss of life of then CEO Jay Schein in 1989, Bergman assumed management and guided the corporate via its transformation right into a publicly traded endeavor, culminating in a 1995 preliminary public providing.

In an organization press unencumber, Bergman mentioned that contemporary strategic and managerial advances have made the tip of this yr “the suitable time for me to retire”. He mentioned: “I sit up for operating with the board to spot my successor and impact a clean transition. Henry Schein has been my skilled house for 45 years, and I can conclude this bankruptcy of my lifestyles with monumental gratitude for the chance to function CEO and with nice self assurance within the corporate’s long term.”

Philip A. Laskawy, lead director on the corporate, added: “Underneath Stan’s management, Henry Schein has turn out to be the worldwide chief in offering dental and scientific merchandise and answers for healthcare suppliers in exchange care settings, and we recognise the numerous have an effect on he has had at the corporate and all the healthcare business. We owe an amazing debt of gratitude to Stan for his steadfast devotion to Henry Schein and for bringing his distinctive mix of strategic imaginative and prescient, consideration to element and entrepreneurship to the corporate.”

The corporate’s announcement adopted a non-public letter despatched by way of Bergman to Henry Schein staff at the morning of 15 July. Within the letter, he indexed a few of his biggest successes, together with reworking the corporate from a US-based dental mail order corporate into an international dental distributor and advancing public–non-public partnerships to foster larger get entry to to oral care. Corporate earnings all the way through Bergman’s tenure greater from US$225.0 million in 1989 to almost US$13.0 billion (€12.5 billion^*) in 2024, representing a compound annual expansion price of roughly 17.5%.

Henry Schein stoked succession rumours previous this yr when it agreed to a deal of acquire and collaboration with KKR. The personal fairness company got US$250 million value of the corporate’s not unusual inventory and was once ready to nominate its representatives William Daniel and Max Lin to the Henry Schein board of administrators. Lin was once named vice chair of the corporate’s nominating and governance committee, which is tasked with overseeing CEO succession.

Bergman commented within the press unencumber: “As a part of succession making plans, the corporate has considering creating the following era of leaders and previous this yr simplified the industry by way of isolating into 3 running divisions, every with remarkable management. I totally be expecting that Andrea Albertini, CEO of the International Distribution Team—who additionally has accountability for the International Generation Team—and Tom Popeck, CEO of the Healthcare Specialties Team, in conjunction with the remainder of the corporate’s government control committee, will lift Henry Schein to new heights.”

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^* Calculated at the OANDA platform for 31 December 2024.