Keystone Dental: New Leadership in Place

Per the Keystone Website New Leadership: Daniel Levangie new President and Chief Executive Officer, Eileen Maus new Chief Commercial Officer, and Tim Adams Senior Vice President of Corporate Strategy plus a nicey nice letter from the CEO stating little change to clients. Apperars as though the missing folks were Olson, Tommy Smith, and the HR person Pellegrini. Appear to be high brow folks with plenty of turnaround experience but sans dental market experience. Warburg Pincus appears to be serious in getting that ROI and soon. Should provide great blog fodder, stay tuned.

 

I talked to the new president. He did not even know the names of the companies competing in this market. Maybe that is a good thing because the competiton is not much interested or concerned about Keystone either

 

Don't think it quite matters that he is now aware of the direcot competitors at this juncture. He was not put in place by WP to understand surgical procedures. Finanacial turnaround is first and foremost. One cannot judge this move as a Dental Implant strategy but purely business. All I can say is it must be pretty messed up!

 

Why would you need industry understanding or knowledge to effectively compete. Of course I am being sarcastic. These guys come from the female diagnostic testing industry.
Word is that even without their industry knowledge, they are going to cut the bloated sales force by 30% next week. Olsen protected his sales people because it was the lynch pin of his strategy. New strategy now, fewer sales people.

 

Rumor has less sales people and less products. People in the industry do not see how the company can pull through. Without announcing a strategy to the industry the company will not be trusted and by announcing a strategy a competitor will eat them alive...catch 22

 

These guys are smart. It is a mistake to take them lightly. Great products, great concept and now the bench strength to execute. Most importantly, they have without a doubt the industries best and most engaged sales force. I dont see a downside.

 

You'll need more than confidence boss to get it done. I guess it is a good starting point though. This is not a product or people issue, it goes to credibility. Ask around the industry and use the term credibilitywhen talking of Keystone to any doctor or otherwise and check out the reaction you'll get.

 

Heh, keep drinking the kool-aid. Keystone is an after-thought in the current market. They started out like a lion and have turned into a dead kitty cat. It's over for Keystone.

 

Keystone people know the gig is up now that their protection, Russ Olsen is history. Look for a huge layoff this week. Keystone is winding down its current operation, and will hit the reset button on Russ Olsen's ill fated business plan.

 

For those of you in sales or sales support at Keystone, remember it is easier to find a job when you have one than it is to find one when you don't. The previous poster is correct that there will be a major round of layoffs. It is the best way to cull the heard into doing what is needed. For those who need a translation: the dead weight and others will be fired and those that remain will be scared into working their asses off and never have any job security whether you produce or not. This management team holds those beneath them (org. chart wise) in very low regard.

Those of you who once had promising careers at other companies I wish you the best of luck. Those of you who thought this was a step up in your career, I'd wish you the best of luck but you wouldn't know what to do with it if I did.

 

All of the blame for the Keystone fiasco can't be placed solely in Russ's head. There was a fast and furious exodus of sales reps from a large implant company, to Keystone two years ago. For the most part the people who left do so because they were thinking one of two things. First mentality: I am not going last at Nobel because I now have to perform in order to make the same money I have been making for the last 5 years, so I will go to Keystone, and collect a high salary, while sales ramp up. If I get blown out for lack of performance at least I am getting $90K salary, and not $60K Nobel salary.
Second Mentality: There is opportunity and growth at Keystone, I am a hard worker, and I will make it happen, while I collect a high salary. No opportunity at Nobel in the next two years I will role the dice and go to Keystone. Point is that the failure of this project, has to be viewed as company wide. There never seemed to be too much incentive for the Keystone guys to perform. That is always a bad thing. High salary sales jobs are not too motivating.

Well, nothing panned out. Was it worth leaving a stable, well funded market leader? How many guys were promoted and actually enjoyed and were interested in what they were doing? Instead of one implant sales job on your resume there is now two. I always questioned why everyone followed the herd and left for Keystone, now I am glad I didn't follow. Let us know what happens this week with the new management team firing the first shots this week. Good luck guys, you rolled the dice, that is for sure. Not a really good time to be looking for a job.

 

Interesting take from a very wise "rep". Companies are always on the look out for smart guys like you. So what is the moral of the story plato?

 

Many who refused to follow the herd over the cliff, by leaving Nobel to go to Keystone will now be looking for a job. Moral: Don't be so quick to follow the easy money, there is no easy money. I really do wish the best of luck to everyone at Keystone. You did what you thought was best for you and your families, no one can be faulted for that. Keystone was always risky as I saw it, but some people saw it differently.

 

Many of my friends and former co workers are employed at Keystone. I wish everyone the best of luck.

 

Same here, good luck to all! Its been a good run.

 

I love it. The guys who work for one of the most un-stable companies in dental are casting stones at the guys who took a pro-active leap to better their situations.

Be careful what ya say.....you just may end up in a similar boat soon enough.

 

Don't let all the Nobel people who didn't make the same leap, discourage you. So, it did not pay off at Keystone, that is the risk of going to a start up company. I commend all of you guys for taking a leap of faith. My only concern would be two implant companies on my resume in a short time. If the boat does sink, where to from here? Biohorizons? Implant Direct? Not sure what the game plan would be after Keystone.

 

any news? Are any of the incompetent managers out yet?

 

Bump - inquiring minds wanna know.

 

Fidel Castro and Raul Castro, same thing shit head