Sybron Dental (NYSE:SYD)
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Bernard J. Pitz to Join Sybron Dental Specialties, Inc. as Chief
Financial Officer
ORANGE, Calif., Feb. 17 /PRNewswire-FirstCall/ -- Sybron Dental Specialties,
Inc. (NYSE:SYD), a leading manufacturer of a broad range of value-added
products for the professional dental market and the specialty markets of
orthodontics, endodontics, implants and infection prevention, today announced
that Bernard J. Pitz will join the Company effective March 1, 2005. After a
transition period, Mr. Pitz will succeed Gregory D. Waller, who announced last
November his intention to retire during 2005, as Chief Financial Officer. Mr.
Waller will remain with the Company through April 1, 2005 to assist with the
transition to the new CFO, and will also remain as a consultant to Sybron for a
period of at least one year.
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Mr. Pitz, 44, joins Sybron from Universal Electronics Inc. (NASDAQ:UEIC), a
leading wireless technology developer, where he served as Senior Vice President
and Chief Financial Officer since November 2003. In this position, Mr. Pitz
helped lead UEI through a period of significant financial growth, while also
overseeing the Company's Sarbanes-Oxley compliance efforts. Prior to UEI, Mr.
Pitz served as Vice President of Finance for Corning Incorporated's worldwide
frequency control operations. Mr. Pitz joined Corning Incorporated as a result
of its acquisition of Oak Industries in 2000, where he served as Vice President
of Finance, North America. From 1983 to 1998, Mr. Pitz held a variety of
financial and operating positions at Motorola in the United States and China.
Mr. Pitz holds an MBA from the University of Chicago and a Bachelors of Science
degree from Northern Illinois University.
"We are very pleased to welcome Bernie to the Company," said Floyd W. Pickrell,
Jr., Chief Executive Officer of Sybron Dental Specialties. "He has a wealth of
experience managing the financial activities of manufacturing companies with
global operations and an exceptional track record of helping to generate
profitable growth. Bernie also has an excellent M&A background that will be
valuable as we continue to utilize strategic acquisitions as a core element of
our growth strategy."
Mr. Pitz commented, "I am very pleased to join Sybron at a time when the
Company has excellent momentum. Over the past few years, the Company has
strengthened its position in its core dental and orthodontic markets, while
making strong inroads into newer markets such as endodontics and dental
implants. Sybron has also made exceptional progress in improving its working
capital management and strengthening its balance sheet, and these will remain
top priorities for the Company. I look forward to working with the rest of the
management team to help Sybron capitalize on the strong growth opportunities
available and taking the Company to the next level."
Mr. Pickrell concluded, "We are very appreciative for the many years of
outstanding service that Greg Waller provided to Sybron, and we wish him well
in his retirement. We are pleased that he will remain involved with the
Company in his role as a consultant."
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Statements made in this press release regarding future matters are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements, including those
dealing with the Company's expectations as to its future growth, acquisition
strategy, and market opportunities are based on the Company's current
expectations. Our actual results may differ materially from those currently
expected or desired because of a number of risks and uncertainties, including
the level of demand for the Company's products; regulatory compliance; currency
fluctuations; distributor inventory adjustments; the intensity of competition;
and other factors affecting the Company's business and prospects discussed in
the filings made by the Company, from time to time, with the SEC including the
factors discussed in the "Cautionary Factors" section in Item 7 of the
Company's most recent Annual Report on Form 10-K and its periodic reports on
Form 10-Q. We undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or otherwise.
BUSINESS DESCRIPTION
Sybron Dental Specialties and its subsidiaries are leading manufacturers of a
comprehensive line of consumable general dental and specialty products for the
orthodontic, endodontic, implant and infection prevention markets worldwide.
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DATASOURCE: Sybron Dental Specialties, Inc.
CONTACT: Gregory D. Waller, Chief Financial Officer of Sybron Dental
Specialties, Inc., +1-714-516-7400
Web site: http://www.sybrondental.com/