Henry Schein (Nasdaq: HSIC) announced today that Stanley M. Bergman intends to retire as CEO at the end of the year.
Bergman has had a 45-year tenure at Henry Schein, with more than 35 years spent in the corner office. He plans to continue leading the company as CEO until his retirement and to remain as chair thereafter.
Henry Schein said it is commencing a formal search process in conjunction with a nationally recognized executive search firm. It intends to consider internal and external candidates.
“With the progress made advancing our BOLD+1 strategic plan and with strong management in place, it is the right time for me to retire at the end of the year,” Bergman said in a news release. “I look forward to working with the board to identify my successor and effect a smooth transition. Henry Schein has been my professional home for 45 years and I will conclude this chapter of my life with enormous gratitude for the opportunity to serve as CEO and with great confidence in the company’s future.”
Philip A. Laskawy, lead director for Henry Schein added the company became a global leader in dental and medical products under Bergman’s stewardship.
“We owe a tremendous debt of gratitude to Stan for his steadfast devotion to Henry Schein and for bringing his unique blend of strategic vision, attention to detail, and entrepreneurship to the company,” Laskawy said.
More about Stanley M. Bergman’s tenure as CEO
Under Bergman, Henry Schein’s revenues increased from $225 million in 1989 to nearly $13 billion in 2024. That marked an approximate compound annual growth rate (CAGR) of 17.5%.
The company also completed an initial public offering (IPO) in 1995 and now has a market capitalization value of $9 billion.
Bergman took Henry Schein from a small, U.S.-based primarily dental mail order company to becoming a large global full-service dental distributor and a distributor of medical products to alternate care sites. The company said he created a fast-growing dental business and established Henry Schein as a global leader in advancing public-private partnership to support access to care for underserved individuals.
“It has been my greatest privilege to lead Team Schein over the past 35-plus years,” Bergman said. “Guided by our purpose-driven mission, we have built an agile company that is able to meet the changing needs of our customers, has created significant shareholder value, and is well positioned for the future.”
