3D Systems Starts CEO Search as Jeffrey Graves Prepares to Retire

3D Systems is looking for its next chief executive. Dr. Jeffrey Graves will leave the president and CEO role and retire from the board once a successor is in place, the company announced on August 4, 2026. The board has engaged an executive search firm to lead the process, and Graves is expected to stay in his current position until a new CEO starts, then move into a consulting role for six months to help with the transition.

The timing matters because 3D Systems is in the middle of a multi-year turnaround. Q2 2026 revenue came in at $94.6 million, down 0.3% year-over-year but up 1.4% excluding divestitures. Printer sales rose more than 45%, led by the DMP 350 metal system and the SLA 825 polymer platform. Adjusted EBITDA improved by $4.6 million year-over-year to a loss of $0.8 million, and the first half delivered positive Adjusted EBITDA of $1.3 million compared to a $30.8 million loss a year earlier. Non-GAAP operating expenses fell 11% to $39.5 million after a six-quarter restructuring program that generated more than $60 million in annualized savings.

Graves took over in May 2020 and rebuilt the company around Healthcare and Industrial segments, refocusing the portfolio on Aerospace and Defense, Data Center Infrastructure, Med Tech, and Dental. The company sold Geomagic for $119.4 million in April 2025 and divested 3DXpert and Oqton in October 2025. Full-year 2025 revenue closed at $386.9 million, down 12%, with a $96.1 million operating loss.

The defense business gives the next CEO a solid foundation. On August 10, 3D Systems disclosed a further $9 million U.S. Air Force award extending the Large-Format Metal 3D Printer Advanced Technology Demonstrator program by two years. Total program funding now stands at $27.4 million. The company has projected Aerospace and Defense as its fastest-growing industrial line, with over 20% growth in 2026 and more than $35 million from production systems and custom metal parts.

The board is protecting execution while it hires. There is no interim CEO, no immediate effective date, and no strategic review running alongside the search. That structure points to confidence in the current plan rather than a pivot. The risk is that Graves holds the wheel for a quarter or more as a lame-duck CEO. What that buys the company is a successor who inherits a plan instead of a fight over one.