GlobeNewswire Inc | Oct 6, 2020 08:30AM EDT

October 06, 2020

ROCK HILL, S.C., Oct. 06, 2020 (GLOBE NEWSWIRE) -- A central elementof3D Systems(NYSE:DDD)recently announced reorganization and restructuring plan is the creation oftwo market-focused business units Healthcare Solutions and Industrial Solutions. Today, the company is pleased to announce the leaders for these businesses,Menno Ellis,executive vice president, healthcare solutions,and Reji Puthenveetil, executive vice president, industrial solutions.

As the leader for the Healthcare Solutions Group, Mr. Ellis is responsible for 3D SystemsDental, Medical Device, and Simulation businesses.He joined 3D Systems in December 2016 as Senior Vice President Strategy and Vertical Marketsand thenserved as Senior Vice President of the Plastics business, which included the companys highly successful efforts in Dentistry. Prior to joining the company,Mr. Ellisspent 20 years in management and business consulting services with an emphasis on sustainable, long-term revenue growth, and value creation. Heholds undergraduate and graduate business degrees from the Wharton School of the University of Pennsylvania and the Ross School of the University of Michigan.

Mr.Puthenveetiljoined 3D Systems on October 1, 2020, andleads the companysIndustrial Solutions Groupwhichencompassessegments such as Aerospace & Defense, Ground Transportation, Energy, High Tech Industrial, and Jewelry.Prior to his role with 3D Systems,Mr. Puthenveetilspentmore than 25 years in management consulting and operational roles helping companies across multiple industries design a clear strategy for profitable growth and ensuring organizational capability and alignment for execution.Hereceived a bachelors degree in communications from Wingate College and a masters degree in business administration from Wake Forest University.

In announcing these two key leadership roles, Dr. Jeffrey Graves, president, and CEO of 3D Systems stated, Im very pleased to have Menno and Reji as the leaders of our two business units. Both have an outstanding combination of strategic vision and leadership characteristics, combined with a strong focus on day-to-day operational execution. During his tenure with 3D Systems, Menno has successfully implemented organic and inorganic growth initiatives to accelerate the adoption of additive manufacturing workflows and solidified the Companys leadership position in the Dental space. He will now build upon this success by leading all of our Healthcare efforts. Rejisdemonstrated successacross many industrial segments, with particular expertise in sales and commercial operations, provides a strong foundation for leadership of our Industrial business, which encompasses key applications across numerous industrial sectors. Hisrelationship with 3D Systems spans many years and his knowledge of the company allows him to hit the ground running in his new leadership role.

Dr. Graves concluded, With this announcement of our two business unit leaders, our executive reorganization is complete and we are moving well along our path to restructure the business, with a strong focus on value creation in this exciting market for additive manufacturing.

Forward-Looking StatementsCertain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as "believes," "belief," "expects," "may," "will," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking statements are based upon managements beliefs, assumptions, and current expectations and may include comments as to the companys beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the companys periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise.

About 3D SystemsMore than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading Additive Manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction - empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems solutions address a variety of advanced applications in Healthcare and Industrial markets such as Medical and Dental, Aerospace & Defense, Automotive, and Durable Goods. More information on the company is available at www.3dsystems.com.

Investor Contact: investor.relations@3dsystems.comMedia Contact: press@3dsystems.com

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/1714a079-1fa6-472c-9968-771bbe1ab8e1