James Heppelmann Assumes Role of CEO at PTC

Needham : PTC (Nasdaq: PMTC), The Product Development Company, announced that James E. Heppelmann, the company’s President and Chief Operating Officer has assumed the role of President and Chief Executive Officer, as previously announced on May 10, 2010. Heppelmann succeeds C. Richard Harrison who will serve as the company’s Executive Chairman and continue in a strategic advisory capacity. A resources site with additional multi-media content can be found here.

“This is an incredibly exciting time to be taking over the leadership of PTC,” said Heppelmann. “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. Our PLM business driven by our Windchill solutions continues to gain momentum as evidenced by expected license growth for Windchill of approximately 70% in FY ’10 and recent strategic wins including EADS, Continental and Target. In addition, “Project Lightning,” our vision for the next generation of CAD, will be unveiled on October 28 and is expected to redefine the mechanical CAD market.”

Heppelmann continued,“ I would like to sincerely congratulate Dick Harrison for the incredible leadership he demonstrated throughout his 23 years of service to the company and am looking forward to working with him in his ongoing role as Executive Chairman.”

“It’s been a privilege to lead PTC for the past ten years,” said Harrison. “We have planned this succession carefully and I fully support Jim and his vision for the next phase of the company’s growth. I look forward to continuing to serve as Executive Chairman to help leverage and extend the company’s strategic business opportunities.”

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