Align Technology CEO Joe Hogan To Step Down, With P&G Healthcare Veteran Jennifer Davis Named Successor
Hogan says the handoff was planned, while the CFO says a full 2027 outlook waits for Davis and the Elliott-linked review.
Align Technology CEO Joe Hogan said on the company's third-quarter earnings call Wednesday that he is stepping down, and the board has named Jennifer Davis, who led Procter & Gamble's global healthcare business, to succeed him. The handoff lands in the middle of a strategic review that followed talks with activist investor Elliott Management.
A handoff in two steps
Align, which makes Invisalign clear aligners, iTero scanners and exocad dental software, said Davis joins November 2 as CEO-elect and a board member. She takes over as CEO and president on December 31, Hogan said.
Hogan said the process "has been carefully planned for some time." He said Davis brings 33 years of leadership experience across innovation, digital transformation, brand building, operations, customer development and oral health, and called her "the right leader to build on that foundation."
Several analysts opened their questions with good wishes for Hogan. One from Leerink Partners wished him "best of luck in retirement," and an analyst from Mizuho congratulated him on 11-plus years of leadership at Align.
Outlook waits for the new CEO
CFO John Morici said Align will give its full 2027 outlook when it reports fourth-quarter results, after the strategic and operating model review is complete "with Jen leading the business."
Hogan said the review covers commercial effectiveness, organizational scalability, operating efficiency and resource allocation, with a focus on North America and on finding more margin expansion. Details will come once objectives are final. It followed what he called constructive discussions with Elliott, and the first of three new independent directors, Quinton Blackford, CEO of iRhythm Technologies, joined in August.
Morici said preliminary planning targets at least another 100 basis points (one percentage point) of adjusted operating margin improvement in 2027, without needing a consumer recovery.
The quarter Hogan leaves behind
Worldwide revenue was $1.015 billion, up 1.9% from a year earlier, Hogan said. Clear aligner shipments rose 6.6% to 691,000, and adjusted EPS was $2.80, up 7.3%.
For 2026, Align now expects revenue of about $4.11 billion to $4.13 billion, lowered from its prior outlook mainly because of weaker scanner-and-services expectations. It plans about $500 million in buybacks this year, including up to $300 million in the fourth quarter. The company's market value was $10.8 billion.
Davis joins the board on November 2 and becomes CEO on December 31; the full 2027 outlook is due with fourth-quarter results.
Sources
- Align Technology appoints new CEO (ALGN:NASDAQ) | Seeking Alpha — seekingalpha.com
- Align Technology Non-GAAP EPS of $2.80 beats by $0.04, revenue of $1.01B beats by $10M (ALGN:NASDAQ) | Seeking Alpha — seekingalpha.com
- Invisalign’s Moment of Truth: Will International Growth Save ALGN on Oct 28? — Yahoo Finance
- Align Technology: Q3 Earnings Snapshot | wusa9.com — Associated Press
- Is the Options Market Predicting a Spike in Align Technology Stock? — Yahoo Finance
