SAN JOSE, CA - today initiated a set of organizational changes to more effectively support business functions along its Clear Aligner and Scanner and CAD/CAM Services product lines. Product and brand marketing veteran Greg Morrow will join Align as vice president and general manager for the Clear Aligner product line, reporting directly toTim Mack, senior vice president, marketing and business development. Mr. Mack will continue in his current position and take on the additional role of general manager for the Scanner and CAD/CAM Services product line.
"Greg brings a wealth of marketing, brand and business unit management knowledge to Align, with deep experience across many industries and consumer brands, most recently with Johnson & Johnson's Vision Care Division, and prior to that with well-respected brands such as Coca-Cola and Procter & Gamble. We are excited to have him join the team and to help accelerate growth and adoption of Invisalign worldwide," said Mr. Mack.
In addition, Dana Cambra, vice president, research and development, has left the Company. On an interim basis, Align President and CEOThomas M. Prescott will oversee R&D and Information Technology.
"Under Dana's leadership, the R&D and IT groups have made significant contributions to the success of the Company and we appreciate Dana's role in building up those organizations," said Mr. Prescott. "I'm confident that our very experienced and talented team will continue to drive industry-leading products and clinical innovation for Invisalign and iTero scanner technology."
There will be a small reduction in workforce related to these organizational changes that will impact approximately 25 full time employees across the Company. Align will incur approximately $2.1 million in costs for severance of which $1.9 million will be recognized in the fourth quarter of 2012 and $0.2 million in the first quarter of fiscal 2013. Based on this, as well as continued softness in the dental market and the disruption of its customers' practices from Superstorm Sandy, Align now expects revenue and EPS to be at the low-end of its previously reported Q4'12 guidance. As of September 30, 2012 Align had a regular employee base of approximately 3,090 worldwide.