3D Systems CEO Jeffrey Graves Steps Down as Company Searches for a New Direction

A CEO Departure Six Years in the Making

Jeffrey Graves announced on August 4, 2026 that he will step down as President and CEO of 3D Systems once the board finds a successor. He will also retire from the board. The company is searching for a replacement this calendar year, and Graves will remain in his role until that person is appointed.

The departure was not unexpected. Graves arrived in May 2020, cut 20 percent of the workforce, split the business into healthcare and industrial divisions, and went on an acquisition spree that included Allevi, Oqton, Titan Robotics, Kumovis, and WeMatter. Some of those bets, like Oqton, were later sold at a steep loss. Others, like Kumovis and the Nexdent dental portfolio, have found footholds. But the revenue trajectory never recovered: from $557 million in 2020 to $387 million in 2025.

The Strategy Was Right, the Execution Was Not

Graves bet on healthcare and specialized manufacturing early, and those sectors did grow. The problem is that 3D Systems never turned those bets into the kind of revenue growth the market expected. Bioprinting venture Systemic Bio was shut down. The attempted acquisition of Stratasys in 2023 ended in embarrassment. Oqton, bought for $188 million, was sold four years later for $3.3 million.

The company remains deeply embedded in U.S. defense and healthcare, which makes it too important to fail. But it is also worth less than Stratasys, and a rounding error next to Chinese competitors like Farsoon and Creality. The stock jumped 44 percent in one week after unexpectedly strong Q2 2026 results, but that was driven by one-time factors, not operating momentum.

What Comes Next

The next CEO will inherit a company that knows where the market is going but has not been able to get there. Healthcare is growing, but margins are declining. Metal printing is strong in aerospace and defense, but competition is fierce. The company needs someone who can define a clear identity, stop the acquisition-and-divest cycle, and build a coherent product roadmap.

3D Systems invented stereolithography and built the first public market for 3D printing. That heritage carries weight, but it does not pay the bills. The new leader will have to turn that history into something customers will actually buy.