Why Are Dentsply Sirona Shares Plummeting Today?

Dentsply Sirona Inc XRAY appointed John Groetelaars, who serves on Dentsply Sirona's Board of Directors, as Interim Chief Executive Officer.
He succeeds Don Casey, who has been terminated as CEO, and will cease to serve as a member of the Company's Board, effective immediately.
The Board has initiated a search to identify the Company's next CEO.
Related: Dentsply Sirona's Q4 Falls Short Of Expectations, FY22 Sales Outlook Lags Street View.
The Company also appointed Barbara Bodem as Interim Chief Financial Officer, effective upon Jorge Gomez's previously announced departure on May 6, 2022.
Ms. Bodem will join the Company on April 25.
Dentsply Sirona expects preliminary Q1 FY22 sales of approximately $965 million, down 1.4% Y/Y on an organic basis, versus the Wall Street estimate of $1.02 billion.
It expects an adjusted EPS of $0.48 - $0.52, compared to the consensus of $0.67.
The Company said that relative to last year, these results reflect weaker sales performance in the U.S., global supply chain challenges, and foreign exchange headwinds.
Price Action: XRAY shares are down 13% at $42.40 during the market session on the last check Tuesday.

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