Dentsply Sirona (Nasdaq: XRAY) has hired a new CFO as its board looks to wrap up an internal investigation into past financial practices.
Over the past eight years, Glenn Coleman has been CFO and then COO at Integra Lifesciences. Dentsply Sirona announced yesterday evening that Coleman will start as the dental tech company’s chief financial officer on September 26.
Coleman succeeds Barbara Bodem, the former Hillrom CFO who has been Dentsply Sirona’s interim chief financial officer since the company let go of former CEO Don Casey in April. Previous CFO Jorge Gomez soon left his new job at Moderna.
John Groetelaars, the former Hillrom CEO, was Dentsply Sirona’s interim CEO until recently — when the company appointed former BD executive Simon Campion as CEO.
“I look forward to working with Simon and [the] rest of the team to bring greater focus and discipline to our execution, advance our financial, operational, and strategic goals, and ultimately deliver long-term growth and value creation,” Coleman said in a news release.
Awaiting internal investigation results
There was no extra word from Dentsply Sirona on when the internal investigation will end. The Form 8-K, filed with the SEC after Coleman’s appointment, mentioned that the company’s lenders are now giving it until Nov. 7 to deliver its unaudited financial statements for the second quarter.
The Charlotte, North Carolina–based dental products and technologies company previously said that it is investigating its use of incentives to sell products to distributors during the third and fourth quarters of 2021. It is looking into whether the incentives and sales impact were adequately accounted for and disclosed in SEC filings.
“Glenn, like me, is a high-integrity leader who shares our commitment to accountability, operational rigor, discipline and execution,” Campion said. “I have no doubts that he will be a great thought partner for me and the other members of the leadership team. Glenn’s leadership will be instrumental as we move forward with the previously announced review of the company’s business and operations, including competitive positioning and portfolio, margin enhancement opportunities, and capital structure.”