Simon Campion will be the new CEO of Dentsply Sirona (Nasdaq:XRAY) as it wraps up an internal investigation into potentially iffy financial practices.
Campion will join the Dentsply Sirona board on Sept. 12, according to a news release out yesterday. He takes over for interim CEO John Groetelaars, the former Hillrom CEO who has led the dental tech company since the removal of former CEO Don Casey in April. (Previous CFO Jorge Gomez soon left his new job at Moderna.)
At BD, Campion has most recently led the company’s Medtech segment. He joined BD through its $24 billion acquisition of Bard in 2017, leading BD’s Interventional segment through the integration.
Eric K. Brandt, chairman of the Dentsply Sirona board, described Campion as a high-integrity, transformational leader. “In his 25 years in the medical device industry, Simon has led global business units, driven commercial execution, and developed and executed strategies to expand innovation and generate revenue growth at scale. … We believe Simon’s values and leadership will be highly impactful in moving the company forward, particularly as the company prepares to complete the ongoing Audit Committee review, improve operational rigor, and drive accountability.”
Campion, in the same news release, said he has a clear understanding of what it takes for a global healthcare company to succeed. “I am confident that with its strong foundation of industry-leading products and patient-driven innovation, Dentsply Sirona is well-positioned to capitalize on the market opportunities ahead and deliver long-term growth and value creation.”
The internal investigation is focused on the company’s use of incentives to sell products to distributors during the third and fourth quarters of 2021 and whether the incentives and sales impact were adequately accounted for and disclosed in SEC filings, according to a May 10 SEC filing. The filing also said the board’s audit committee wants to know whether senior management at the time used the incentives and other actions to achieve executive compensation targets.
“The board is most grateful to the employees of Dentsply Sirona for their patience, resiliency, and commitment to our providers and patients during this time of uncertainty as the company prepares for completion of the ongoing audit committee review,” Brandt said.
New segment leaders announced at BD
As Campion prepares to leave BD, the company has announced that Mike Garrison, who has been worldwide president of BD Medication Management Solutions since 2020, will be the new EVP and president of the Medical segment.
Rick Byrd, who has been worldwide president of Medication Delivery Solutions, will be EVP and president of the Interventional segment.
Both Garrison and Byrd will assume their new roles on Sept. 6.
“Mike and Rick are highly effective leaders who have demonstrated strategic and operational excellence in their nearly two decades at BD,” BD CEO Tom Polen said in a news release. “Their focus on driving growth and meaningful outcomes has been critical as we pursue our BD 2025 strategy, and they are well-rounded, seasoned leaders with a track record of developing strong teams that deliver impactful results. Their broad experiences across multiple BD businesses and segments position them well for their new roles as we advance our growth agenda and build BD’s future. I would also like to thank Simon for his many contributions over his 14 years with Bard and BD.”