NEEDHAM, Mass., June 9 /PRNewswire-FirstCall/ --
PTC (Nasdaq: PMTC), the product development company(TM), today announced that
it has named Neil Moses as executive vice president and chief financial
officer. Moses joins PTC from Axcelis Technologies, a semiconductor equipment
manufacturing company, where he has served as Chief Financial Officer for the
past three years. In his new role at PTC, Moses is responsible for the
worldwide finance organization, as well as business development and investor
relations.
"Neil is a seasoned professional with 23 years of experience in finance,
operations and business development," said C. Richard Harrison, president and
chief executive officer of PTC. "Given his skills in developing and
implementing proven finance capabilities and systems, and his expertise in
improving shareholder value by driving operational efficiencies, he will be a
valuable addition to the PTC management team."
During Moses' three-year tenure at Axcelis Technologies, he established
the infrastructure of the finance department and investor relations program
for the newly public company, and significantly reduced the company's
breakeven revenue level through strategic restructuring initiatives. These
actions helped protect shareholder value during the economic downturn in the
semiconductor industry. Prior to joining Axcelis, Moses held executive
finance positions in the retail industry, serving as chief financial officer
for Bradlees, Inc. from 1995 to 2000 and as senior vice president of finance
and treasurer at Ames Department Stores, Inc. from 1990 to 1995.
"I am excited to join PTC's management team," said Moses. "During the
last several years, PTC has made significant investments to transform its
business. I look forward to helping PTC capitalize on these investments and
to help position PTC for growth as the overall IT spending environment
improves."
Moses earned a bachelor's degree from Bowdoin College in Maine. In
addition, he holds a master's degree in business administration from the Amos
Tuck School of Business Administration at Dartmouth College.
C. Richard Harrison concluded, "I would like to thank Tom Beaudoin, our
senior vice president of finance who has made an outstanding contribution to
the company as acting chief financial officer for the past six months."
About PTC
PTC (Nasdaq: PMTC) develops, markets, and supports software solutions that
help manufacturers win with superior products. PTC is the world's largest
software company with a total commitment to product development and product
lifecycle management (PLM). The Company services more than 35,000 customers
worldwide. Further information on PTC is available at http://www.ptc.com.
Except for the historical information contained herein, matters discussed
in this news release may constitute forward-looking statements that involve
risks and uncertainties that could cause actual results to differ materially
from those projected. These include: the success of our strategic initiatives
in positioning PTC for future growth; and the effects of a weak IT spending
environment which has impacted the overall demand for software and related
services; as well as other risks and uncertainties detailed from time to time
in reports filed by PTC with the Securities and Exchange Commission, including
the Company's most recent reports on Form 10-K and 10-Q.
PTC, the product development company, and all PTC product names and logos
are trademarks or registered trademarks of Parametric Technology Corporation
or its subsidiaries in the United States and in other countries. All other
companies and products referenced herein have trademarks or registered
trademarks of their respective holders.
Investor Relations Contact: Public Relations Contact:
Meredith Mendola Joe Gavaghan
781-370-6151 781-370-5074
mmendola@ptc.com jgavaghan@ptc.com
SOURCE PTC
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Related links:
http://www.ptc.com
CONTACT:
Investor Relations, Meredith Mendola,
+1-781-370-6151, mmendola@ptc.com, or Public Relations, Joe
Gavaghan, +1-781-370-5074, jgavaghan@ptc.com, both of PTC
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