Henry Schein climbs; longtime CEO to retire

Henry Schein

15/07/2025 15:09

Updates

** Shares of medical products distributor Henry Schein HSIC.O up 2.7% at $72.63

** HSIC says CEO Stanley Bergman will retire at the end of the year after 45 years at the company; will continue as chairman of the board

** Co says it is commencing a formal search process for a new CEO and will consider internal and external candidates

     ** During his tenure, co's revenue grew from $225 million in 1989 to almost $13 billion in 2024 - HSIC

** Given the new KKR investment, we see this broader timing as logical, allowing the board to begin to make some of the previously-discussed changes... that will no doubt be deepened under the new CEO - brokerage Evercore ISI

** Brokerage Leerink Partners says, "There has definitely been investor expectations for some broader strategic pivot, either with a pre-packaged CEO to drive a new strategy and/or more steps tied to the KKR investment"

** Including session's move, stock up 5.3% YTD

 (Reporting by Sneha S K and Christy Santhosh)

 ((Sneha.SK@thomsonreuters.com))