PTC Commends Michael Porter for 20 Years of Service to Board of Directors
Prof. Porter to Depart Board, but will Continue to Serve as Strategy Advisor to the Company
NEEDHAM, MA – February 2, 2015 – PTC (Nasdaq: PTC) today announced that Harvard Business School Professor Michael E. Porter will transition off its board of directors when his term expires at the company’s 2015 annual meeting in March. A professor at Harvard Business School since 1973 and a Harvard University Professor since 2001, Porter has served as a member of PTC’s board of directors for 20 years. Prof. Porter will continue to serve as a strategy advisor to the company, and will continue to collaborate closely with PTC president and CEO Jim Heppelmann in thought leadership on the impact of the rise of smart, connected products on competition and strategy.
In November, 2014 Prof. Porter co-authored with Heppelmann a seminal piece in the Harvard Business Review defining the strategic business implications of the rise of smart, connected products and the Internet of Things (IoT). This deeply thought provoking article argues that smart, connected products are disrupting value chains, transforming competition, and forcing companies to rethink everything they do. The article has already been published in more than 11 languages and 14 countries around the world and even served as a platform for discussion at the recent 2015 World Economic Forum in Davos, Switzerland.
“It has been my distinct pleasure to serve on the PTC board and to help guide the company through two decades of growth, innovation and transformation,” said Porter. “As the world’s products become ever smarter and more connected, PTC has created a unique position in this field, and set itself up for sustainable competitive advantage. I look forward to continuing to help the Company maximize this advantage in an advisory capacity.”
Prof. Porter was first elected to PTC’s board in 1995. He most recently served as chairman of the board’s Corporate Development Committee.
“It has been my great privilege to work with Michael over these past many years and especially to co-author the recent HBR article on smart, connected products,” said Heppelmann. “As a world leader in understanding what drives business competition, growth and success, he is second to none. His impact on PTC’s strategy cannot be overstated and will be felt for many years to come. We are grateful for the tremendous contribution he has made to PTC’s success over the past two decades and we look forward to continuing to work with him in his role as strategy advisor.”
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 atwww.ptc.com.