Reychental Abijah (Avi Reichental)

2015: Abijah Reychental's resignation

At the end of October, 2015 it was announced resignation of the head 3D Systems Avi Reichental that provoked strong fall of stocks of the company.

According to Reuters agency the message 3D Systems, after 12 years of the management of the company Abijah Reychental resigned authority on Wednesday, October 28. It is noted that resignation happened by mutual consent of the head and Board of Directors. The reason is not stated.

The head 3D Systems Abijah Reychental is dismissed

After Reychental's leaving by the interim head of the producer of 3D-printers his director of legal issues Andrew Johnson is appointed. The committee of the highest administration which will help Johnson to manage the company in search time of the permanent CEO is also created.

After it was announced Abijah Reychental's leaving, the stocks 3D Systems fell in price by 6.5% to the level of four-year prescription — up to $10.15.

At the beginning of 2014 securities of the company reached a point in $97.25 against the background of the general recognition of high potential of the technologies of volume printing allowing to reproduce the most different objects – from cars to candies. However by the end of October, 2015 of quotation 3D Systems failed for 90% as investors began to doubt in viability of consumer 3D-printers.

In August, 2015 some shareholders 3D Systems filed a lawsuit against 3D Systems, having accused Abijah Reychental and other top managers that they revaluated capability of the company regarding deliveries of 3D-printers.

"The company speaks about the mutual arrangement, but we consider that Abijah was moved away because of problems 3D Systems and dissatisfaction of investors who took place within the last two years" — the 3D Systems analyst S&P Capital IQ Angelo Zino commented on replacement of the leadership.

According to forecasts of analysts of Wall Street, in 2015 3D Systems will be able to increase revenue by only 9% whereas the previous year there was a 27 percent rise.^[1]

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