3D Systems (DDD) CEO Reichental Resigns as Segment Enthusiasm Fades

3D Systems (NYSE: DDD) shares are on watch Thursday following news that CEO Avi Reichental has stepped down as President and Chief Executive Officer.

Reichental's resignation comes following the boom and bust period for 3-D printing, where exuberance drove shares of 3D Systems and peers to new heights in late 2013/early 2014. Since peaking around $97.50 in early 2014, 3D systems shares have shed nearly 90 percent of their value, closing down below $11 on Wednesday night.

Similar stories can be seen throughout the segment as consumer demand largely failed to meet analyst estimates. 3D Systems peers, such as Voxeljet (NYSE: VJET), ExOne (Nasdaq: XONE), and Stratasys (Nasdaq: SSYS), have all seen similar stock moves as quarterly reports continued to miss even eased expectations.

3D Systems also announced that its Board of Directors has established an Executive Management Committee to provide ongoing leadership and to support companywide operations and strategic initiatives. The Company's Board of Directors will immediately commence a comprehensive search and evaluation process to select a permanent replacement for the role of President and Chief Executive Officer.

Shares of 3D Systems are flat following the news.

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