Business
Progress Software Chief Financial Officer Paul Jalbert to Retire; Former Carbonite CFO Anthony Folger To Be Appointed as New CFO
BEDFORD, Mass., Jan. 16, 2020 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the leading provider of application development and digital experience
About this update from Progress Software Corporation
[{"type":"text","content":"BEDFORD, Mass., Jan. 16, 2020 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the leading provider of application development and digital experience technologies, today announced the upcoming retirement of its Chief Financial Officer, Paul Jalbert, and the appointment of Anthony Folger to succeed him. Jalbert, who joined Progress in August 2012 and has served as CFO since March 2017, will retire as CFO on January 31, 2020. \n “Paul’s retirement comes on the heels of a very successful fiscal 2019, and his contributions have been instrumental in helping us strengthen our business and embark on our strategy to scale our business through accretive M&A,” said Yogesh Gupta, Progress’ Chief Executive Officer. “During his time as CFO, he has helped drive consistently solid performance and greater efficiency in our core businesses, which has generated strong cash flow and created significant value for our shareholders. Paul has developed a world-class finance team with the highest standards of integrity and professionalism and, thanks to Paul’s leadership and skill as CFO, we are well-positioned to manage this transition.” Folger will join Progress as CFO on January 31, 2020 and Jalbert will remain with Progress until April 2020 to assist Folger in the transition. “I greatly appreciate the opportunity Yogesh and the Board provided me to lead Progress’ finance organization at such an exciting time in the company’s history,” said Mr. Jalbert. “I’m extremely enthusiastic about Progress’ future prospects as it moves forward with its accretive M&A growth strategy. I had established a personal goal of retiring when I turned 60, and, although I delayed it by a few years in order to serve as Progress’ CFO, I’m looking forward to embarking on this new chapter in my life.” Folger was previously Chief Financial Officer and Treasurer of Carbonite, Inc. from January 2013 until Carbonite was acquired by OpenText Corporation in late December 2019. As CFO, Folger oversaw Carbonite’s customer facing and business operations including customer support, data center operations, finance, investor relations, corporate development, information technology, business analytics and human resources. From June 2006 to December 2012, Folger held senior leadership positions at Acronis, a leading provider of backup, disaster recovery and secure access solutions, including ...