Dentsply General Counsel Exits, Marking Fourth Resignation in Recent Weeks -- Update

   By Cara Lombardo 
 

Dentsply Sirona Inc. said Monday that it has replaced its general counsel, adding to speculation the company's interim CEO could be building a permanent team.

Keith Ebling will replace former general counsel Jonathan Friedman, who was the fourth executive to step down from the dental supply company this month.

The company also named Nicholas Alexos to the newly created position of chief administrative officer.

Both men also will serve as executive vice presidents and report to interim Chief Executive Mark Thierer, who appears to be refreshing the company's upper ranks, which suggests his role as CEO could become permanent. A spokesman for the company declined comment.

Mr. Ebling most recently was general counsel at Express Scripts Holding Co., while Mr. Alexos comes from Madison Dearborn Partners LLC, a private-equity firm he co-founded.

In his role as chief administrative officer, Mr. Alexos will oversee treasury, information technology, business development, strategic planning and investor relations.

Dentsply Sirona said earlier this month that it was searching for a new chief executive and chief operating officer after three of its top executives resigned.

The company, one of the world's largest makers of dental products and equipment, has said the departures of CEO Jeffrey Slovin, Executive Chairman Bret Wise, and President and Chief Operating Officer Christopher Clark were "intended to better position the company to achieve its potential." A person familiar with the matter told The Wall Street Journal that directors forced the men out amid lagging results following a $14.5 billion merger of Dentsply International and Sirona Dental Systems in 2015.

The three men had assumed their most recent positions when the merger closed in February 2016.

Mr. Friedman, who declined to comment, had been general counsel of Sirona since 2007. The company accepted Mr. Friedman's resignation Wednesday, according to a securities filing.

Earlier this month, Bob Size became Dentsply Sirona's interim president and operating chief. Longtime board member Eric Brandt took over as chairman.

The company said in August that it was cooperating with a Securities and Exchange Commission probe about its accounting and disclosures relating to transactions with a distributor. It said none of the four resignations were related to the company's accounting policies or practices.

Dentsply Sirona shares, up 2% this year compared to the S&P 500's 14% rise, were up 1.2% in recent trading.

Write to Cara Lombardo at [e-mail]

(END) Dow Jones Newswires

October 16, 2017 13:41 ET (17:41 GMT)

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