Henry Schein’s CEO to Retire at Year’s End

The countdown is on.

Just five months to go until Henry Schein Inc. CEO Stanley M. Bergman retires after 45 years at the company, including more than 35 years as chief executive. Bergman will remain as board chairman after his retirement at the end of the year.

Henry Schein’s board is commencing a formal search process in conjunction with a nationally recognized executive search firm and will consider internal and external candidates to replace Bergman.

“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. “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.”

During Bergman’s tenure as CEO, Henry Schein’s revenue grew from $225 million in 1989 to almost $13 billion in 2024, representing an approximate compound annual growth rate of 17.5%, while the company’s market capitalization grew from $290 million at the time of its IPO in 1995 to a current value of almost $9 billion.¹ Further, Henry Schein has delivered a non-GAAP EPS CAGR of 12.4% over this same period.²

“Under Stan’s leadership, Henry Schein has become the global leader in providing dental and medical products and solutions for healthcare providers in alternate care settings, and we recognize the significant impact he has had on the company and the entire healthcare industry. 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,” Lead Director Philip A. Laskawy stated.

Among Bergman and the team’s many accomplishments, the company transformed itself multiple times, growing from a small, U.S.-based primarily dental mail order company to the largest global full-service dental distributor of products and services and a leading medical distributor to alternate care sites with a growing presence in home-delivered products. Henry Schein also is now the largest provider of global dental practice management software and digital services, and has a significant dental specialties business—it is the second-largest provider of endodontic products and third-largest provider of dental implant and bone regeneration products. Moreover, Bergman has helped increase the contribution from the company’s higher growth, higher margin businesses and corporate-brand products under its BOLD+1 strategic plan to more than 50% of total non-GAAP operating income.³ In addition, he’s established Henry Schein as a global leader in advancing public-private partnerships to support access to care for underserved individuals, strengthened infrastructure for disaster relief and pandemic preparedness, and elevated the role of oral health as a key part of systemic health and wellness.

“It has been my greatest privilege to lead Team Schein over the past 35-plus years. 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,” Bergman noted. “As part of succession planning, the company has focused on developing the next generation of leaders and earlier this year simplified the business by separating into three operating divisions, each with leadership. I fully expect that Andrea Albertini, CEO of the Global Distribution Group who also has responsibility for the Global Technology Group, and Tom Popeck, CEO of the Health Care Specialties Group, together with the rest of the company’s executive management committee, will elevate Henry Schein to new heights by continuing to advance the BOLD+1 strategy and working with KKR on value creation initiatives and a broad-based employee ownership program.”

Mr. Bergman sent out a letter two weeks ago in which he thanked all of Team Schein for playing such an important part of building a unique company. He wrote in part: “I am especially pleased to have worked with tens of thousands of committed Team Schein Members who helped reimagine and reinvent Henry Schein’s role, from one of product delivery and logistics to one whose mission today is to help our over 1 million healthcare professionals operate better and more efficient practices so our customers can concentrate on delivering the best quality patient care.”

Henry Schein is a solutions company for healthcare professionals powered by a network of people and technology. With approximately 25,000 Team Schein Members worldwide, the company’s network of trusted advisors provides more than 1 million customers globally with over 300 valued solutions that help improve operational success and clinical outcomes. Its business, clinical, technology and supply chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional healthcare clinics, as well as other alternate care sites. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 300,000 branded products and Henry Schein corporate brand products in its main distribution centers.

A FORTUNE 500 company and a member of the S&P 500 index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 33 countries and territories. The company’s sales reached $12.7 billion in 2024, and have grown 11.2% annually since it became a public entity in 1995.

References
¹ This excludes the company’s 2019 spin-off of its animal health business to a separate publicly held company which had an initial market capitalization of over $4 billion.
² From continuing operations, based on 12-month data through Q4 2024. Excludes certain non-recurring items to provide a more comparable basis for analysis. A reconciliation of GAAP to non-GAAP adjustments is included as an Exhibit to this press release. CAGRs are calculated as of Dec. 28, 2024.
³ The company is unable to calculate the GAAP operating income contribution without unreasonable effort, so it is not including it in the reconciliation.