NEEDHAM, Mass. — (BUSINESS WIRE) — May 27, 2010 — PTC (Nasdaq: PMTC), The Product Development Company®, announced today that Neil Moses, the company's Chief Financial Officer, has resigned effective November 15, 2010. The company has begun a CFO search.
Moses joined PTC in 2003 as Executive Vice President and Chief Financial Officer. Since Moses joined PTC, the company has strengthened its operating model and balance sheet significantly, including a $130 million improvement in GAAP net income.
"Neil has been a valued member of the leadership team for the last seven years. During that time PTC has grown its revenue to approximately $1 billion and driven significant improvements in profitability,” said C. Richard Harrison, Chairman and CEO.
“PTC is a terrific company with a strong future,” said Moses. “It’s been a privilege to be part of a management team that has positioned the company into one of the world’s leading product lifecycle management (PLM) providers. I intend to help facilitate an orderly transition process over the coming months.”
PTC, the PTC logo, and The Product Development Company are trademarks or registered trademarks of Parametric Technology Corporation and/or its subsidiaries in the United States and in other countries.
About PTC ( www.ptc.com)
PTC (Nasdaq: PMTC) provides discrete manufacturers with software and services to meet the globalization, time-to-market and operational efficiency objectives of product development. Using the company's PLM and CAD and related solutions, organizations in the Industrial, High-Tech, Aerospace/Defense, Automotive, Retail/Consumer and Life Sciences industries are able to support key business objectives such as reducing costs and shortening lead times while creating innovative products that meet customer needs and comply with industry regulations.
Kristian P. Talvitie, 781-370-6151