PTC Appoints Robert Schechter as New Board Chair
Succeeds Donald Grierson, Who Continues As Board Member
NEEDHAM, MASS., March 26, 2015 – PTC (Nasdaq: PTC) today announced that Robert Schechter has assumed the role of chairman of the company’s Board of Directors. Schechter, a PTC director since 2009, is former CEO of NMS Communications Corporation, a provider of hardware and software solutions for the communications industry. He has considerable experience in the technology industry, currently serving on the boards of Tremor Video Inc. and EXA Corporation and previously serving on the boards of Unica Corporation and Soapstone Networks. Schechter succeeds Donald Grierson, who will continue to serve on PTC’s board.
“Bob brings a valuable combination of business strategy, technology and financial acumen to PTC’s board,” said Jim Heppelmann, PTC’s president and CEO. “We look forward to benefiting from Bob’s tremendous board experience and business insight as we focus on profitable growth and delivering shareholder value.”
Prior to NMS Communications, Schechter held positions of chief financial officer and senior vice president at Lotus Development Corporation and was responsible for all sales, marketing, customer service and product development activities outside of North America, as well as Lotus global consulting services. Both Lotus and NMS represented innovative paradigm shifts in Internet collaboration and wireless connectivity. Schechter’s experiences at those companies uniquely positions him to lead PTC’s board of directors as PTC pursues its own disruptive innovation in the Internet of Things. Previously, Schechter was a Partner at Coopers & Lybrand LLP and served as Chairman of the North East Region High Tech Practice.
“Having contributed to PTC’s strategic direction over the past six years as a board member, I couldn’t be more enthusiastic about the opportunity to help PTC seize the opportunities that lie ahead,” said Schechter. “PTC has tapped into a massive wave of technology innovation, particularly in the area of the Internet of Things, and has made moves to place itself in a leadership position. The company is now appropriately focusing on how to capitalize on this opportunity to drive a new era of growth.”
Schechter assumes the board chair from Donald Grierson, a long-time director who served as Independent Lead Director from 2010 to 2012, and became board chair in 2012. Mr. Grierson will continue to serve as a director of the board and as Chairman of PTC’s Compensation Committee.
“During Don’s chairmanship, PTC moved boldly into new markets, helping differentiate the company and positioning us for growth, while at the same time increasing operating margins and driving shareholder value. We are grateful for Don’s leadership over the past several years, and we look forward to his continued contribution to the company’s success,” concluded Heppelmann.
PTC (Nasdaq: PTC) enables manufacturers to achieve sustained product and service advantage. The company’s technology solutions transform the way products are created, operated, and serviced across the entire product lifecycle – from conception and design to sourcing and service. Founded in 1985, PTC employs over 6,000 professionals serving more than 28,000 businesses in rapidly evolving, globally distributed manufacturing industries worldwide. Get more information at www.ptc.com.
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