Henry Schein CEO Stanley Bergman to Retire After 35-Year Tenure, Marking End of an Era

Stanley Bergman, the long-standing CEO of Henry Schein, has announced his plans to retire by the end of 2025, concluding a remarkable 45-year career with the company. Bergman, who has held the chief executive position since 1989, will remain as chairman of the board following his retirement.

A Legacy of Growth and Transformation

Under Bergman's leadership, Henry Schein has experienced exponential growth, evolving from a primarily mail-order dental supply business into a diversified international distributor of medical, surgical, and dental products. The company's annual revenues have surged from $225 million in 1989 to an impressive $12.7 billion in 2024, representing a compound annual growth rate of approximately 17.5%.

Since going public in 1995, Henry Schein's market capitalization has expanded from $290 million to nearly $9 billion, securing its position in both the S&P 500 and Fortune 500 indices. The company now employs around 25,000 people globally.

Strategic Initiatives and Recent Challenges

Bergman's retirement announcement comes amid the company's ongoing implementation of its BOLD+1 strategic plan, which focuses on embracing digital technologies and refocusing commercial efforts on high-margin businesses. In a statement, Bergman expressed confidence in the progress of this initiative and the strength of the current management team.

The company has faced several challenges in recent years, including:

1. The global COVID-19 pandemic
2. A significant cyber incident in 2023 that exposed personal health information of over 166,000 individuals and resulted in a sales reduction of $350-400 million
3. Ongoing market pressures affecting distribution companies

Despite these obstacles, Bergman highlighted the company's resilience and ability to create what he believes to be "a best-in-class distribution company within health care" through initiatives focused on gross profit, expense control, and improved customer satisfaction.

Future Outlook and Succession Planning

As Henry Schein prepares for this leadership transition, the company is set to continue its strategic focus on digital transformation and high-margin businesses. In May 2025, the company received a $250 million investment from KKR, which acquired approximately 12% of Henry Schein's shares and two board seats.

Bergman expressed optimism about the company's future, stating, "I fully expect that this team 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."

The board of directors will now begin the process of identifying Bergman's successor, with the outgoing CEO committed to ensuring a smooth transition. As the search commences, the industry watches closely to see who will lead Henry Schein into its next chapter of growth and innovation in the rapidly evolving healthcare distribution landscape.