Henry Schein names new exec VP, COO in succession plan
Michael S. Ettinger will become executive vice president and chief operating officer of Henry Schein. Credit: Henry Schein, Inc.
Henry Schein Inc., Long Island's largest public company by revenue, has named a 28-year company veteran to the role of chief operating officer as part of a corporate succession plan.
The promotion of Michael S. Ettinger to executive vice president and chief operating officer is one of a flurry of recent personnel moves at the global distributor of supplies to the offices physicians and dentists.
Ettinger, who turned 61 on Monday, will report to Henry Schein chairman and chief executive Stanley M. Bergman, 72, who has served in those roles since 1989.
In August 2019, Henry Schein's board of directors extended Bergman's contract through the end of 2022 and a spokeswoman said that he has "no immediate plans to retire" from the company.
"Succession planning occurs continuously at Henry Schein," the spokeswoman said. "We have a deep breadth of management identified or in development."
Ettinger,who lives in Woodbury, has served as senior vice president, corporate and legal affairs and secretary since 2013 and chief of staff since 2015.
The Melville-based company also announced that Gerald A. Benjamin will retire as executive vice president and chief administrative officer effective July 1, the same day that Ettinger assumes his new positions.
Benjamin, 69, served with the company for 34 years, developing the supply chain that grew to about 5.6 million square feet of distribution centers, offices, showrooms and factories.
“Gerry joined Henry Schein in 1988 and led the continuous transformation of our Global Services Group to meet the needs of each of our constituencies as we grew from being a private, domestic mail-order business into an international, full-service, publicly traded company with nearly 22,000 Team Schein members and operations in 32 countries," Bergman said in a statement.
Benjamin's retirement announcement follows that of chief financial officer Steven Paladino, who disclosed in January that he plans to step down on April 29 after 35 years with the company.
When Paladino announced his plans, Robert W. Baird & Co. analyst Jeff Johnson said in a research note that he had been expecting a wave of retirements given the age of Henry Schein's senior management.
The company has a deep bench of management talent, Johnson said, and "the risk from additional leadership transitions this year or in the near/intermediate-term are manageable."
On Friday, the company also announced that it was promoting vice president, senior counsel Jennifer Ferrero to the additional title of corporate secretary.
The company posted 2021 revenue of $12.4 billion, a 22.6% increase over 2020, when operations were disrupted by pandemic-related supply-chain issues. On Monday, shares of Henry Schein closed at $87.71, down 1.8%, but close to their 52-week high of $89.48.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
