3D SYSTEMS TO REASSIGN SEVERAL EXECS.Byline: Nicholas Grudin Staff Writer VALENCIA - 3D Systems announced Monday it will reassign several executives to its global management team, continuing a year of upheaval and adjustment at the Valencia-based high-tech company. The management realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. comes a week after a lackluster lack·lus·ter adj. Lacking brightness, luster, or vitality; dull. See Synonyms at dull. Adj. 1. lackluster - lacking brilliance or vitality; "a dull lackluster life"; "a lusterless performance" report on third-quarter profits, showing an 11 percent drop in revenues from the same period last year. Abe Reichental, the company's recently hired chief executive, called the end of the third quarter ``the conclusion of a chapter in the history of our company.'' In February, an internal audit revealed that millions of dollars in revenue were misreported, a scandal that prompted the replacement of the chief executive, chief financial and chief operating officers Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . And if the end of the third quarter turned the page on the fallout fallout, minute particles of radioactive material produced by nuclear explosions (see atomic bomb; hydrogen bomb; Chernobyl) or by discharge from nuclear-power or atomic installations and scattered throughout the earth's atmosphere by winds and convection currents. from the misreported earnings, then Monday's announcement marked the beginning of a new chapter. Several of the company's top brass will be reassigned to focus on global marketing and services. ``We believe the realignment of our management team and operations globally enhances our ability to meet and exceed our customer needs, optimize optimize - optimisation our operations, execute our business strategy and improve returns,'' Reichental said. Among the many personnel moves announced Monday was the assignment of company co-founder Chuck Hull to lead a research team focused on exploring new breakthrough technologies. Two senior vice presidents will be moved into arms of the company's global division in marketing and services. And one executive from the same company that Reichental came from, New Jersey-based Sealed Air Sealed Air Corporation(NYSE: SEE) is a company that makes a variety of packaging materials, systems and equipment. Its brands include Bubble Wrap, Cryovac, Instapak, Shanklin and Jiffy Mailer. They have recently moved headquarters to Elmwood Park, New Jersey. Corp., will join 3D's global team as well, taking on the newly created position of vice president of global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. . ``Tactically, we are organizing and empowering our team to focus on key markets and opportunities, expand the range of our customer services portfolio, accelerate the release of new products to market, and improve our operations and supply chain management,'' Reichental said. 3D Systems designs ``solid imaging'' products that create solid models out of computer images. The company's mainly patented products can be used in anything from designing jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. to automobiles. On Nov. 10, 3D announced that revenues for the quarter that ended Sept. 26 were $24.9 million compared to $27.9 million in the third quarter of 2002. In the first nine months of 2003, earnings were also off by more than 10 percent. The financial troubles reflect a year of turmoil for the Nasdaq-traded company, which misreported $3 million in earnings at the end of 2002 and has been reeling reel·ing n. Maine Sustained noise, as from hammering: "Hark that reeling, now, you'll wake the baby!" Anonymous. ever since. Reichental was hired to right the ship. ``I truly appreciate all of the support given to me and the company during this transition period and look forward to updating you on our immediate plans as the fourth quarter unfolds,'' Reichental said last week. Nicholas Grudin, (661) 257-5255 nicholas.grudin(at)dailynews.com |
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