Henry Schein climbs; longtime CEO to retire
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
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