Product development company Parametric Technology Corp., or PTC (PMTC) said Friday that James Heppelmann, currently President and Chief Operating Officer, has assumed the role of President and Chief Executive Officer. Heppelmann succeeds Richard Harrison who will serve as the company's Executive Chairman and continue in a strategic advisory capacity.
The changes were first announced on May 10, 2010. Heppelmann joined Needham, Massachusetts-based PTC in 1998 as a Senior Vice President through PTC's acquisition of Windchill Technology, a company he founded. He became Executive Vice President and Chief Technical Officer in 2001, and was named President and COO in March 2009.
Commenting on the his new role, Heppelmann said, "This is an incredibly exciting time to be taking over the leadership of PTC. Our market has exciting growth prospects, our competitive position is strong, our market share is increasing, and our customers see us as a strategic partner who delivers strong business value. We are well positioned to achieve our stated goals and extend our technology leadership in both the PLM and CAD arenas."
It was announced previously that Harrison, as Executive Chairman, would focus on key customer and investor relationships, while continuing to perform his duties as Chairman of the company's Board of Directors. Harrison joined PTC in 1987 as vice president of sales distribution. Prior to his appointment as CEO, he spent six years as president and chief operating officer of PTC, responsible for all global sales, marketing, support and services.
On September 20, PTC said it appointed former Arivana Inc.'s finance chief Jeffrey Glidden as its executive vice president and chief financial officer, effective September 27. Jeffrey Glidden replaces Neil Moses, who is leaving the company on November 15, 2010.
PMTC is currently trading at $19.54 in pre-market activity, up $0.33 or 1.72%.
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