NEEDHAM, Mass. - August 4, 2014 - PTC (Nasdaq: PTC) today announced that CFO Jeff Glidden has notified the Company of his intention to retire in FY'15. PTC will engage an executive search firm to initiate a comprehensive search for Mr. Glidden's replacement. To ensure a smooth transition, Mr. Glidden will remain in his current role until his replacement has been selected.
James Heppelmann, president and chief executive officer, commented, "Jeff has been a valued member of the PTC executive team since 2010. During that time, we have undergone a significant strategic repositioning of the Company into new growth markets such as ALM, SLM and IoT, grown revenues from approximately $1.0 billion to over $1.3 billion, and improved our non-GAAP operating margin by over 900 basis points. Jeff's strong financial and operational background and collaborative style have been a valuable asset to PTC, and we wish him the best in his retirement after a long and distinguished career spanning over 40 years."
Jeff Glidden, chief financial officer, said, "PTC has driven significant value to customers and shareholders over the past few years, and I am proud to have been part of that. Jim and the rest of the management team are incredibly dedicated and I am confident in their shared vision to continue delivering solid operating and financial results."
As CFO, Mr. Glidden oversees the controller, financial planning, sourcing and facilities, tax, treasury, investor relations, and information technology functions.
About PTC PTC (Nasdaq: PTC) enables manufacturers to achieve sustained product and service advantage. PTC's technology solutions help customers transform the way they create, operate and service products for a smart, connected, world. Founded in 1985, PTC employs approximately 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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