Press release
PTC Announces CEO Succession Plan
Neil Barua, President of PTC's Service Lifecycle Management business, to be appointed PTC's next Chief Executive Officer in February 2024 James Heppelmann
About this update from Ptc Inc.
[{"type":"text","content":"Neil Barua, President of PTC's Service Lifecycle Management business, to be appointed PTC's next Chief Executive Officer in February 2024\nJames Heppelmann appointed Chairman of the Board\nBOSTON, July 26, 2023 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced that Neil Barua, President of PTC's Service Lifecycle Management business, will succeed James Heppelmann as Chief Executive Officer of PTC at the time of the Company's annual shareholder meeting in February 2024. At that time, Mr. Heppelmann will step down as CEO and retire, concluding a distinguished 26 years of service at the Company, including 13 years as CEO. Effective immediately, Mr. Heppelmann is appointed Chairman of the Board, and Mr. Barua is appointed CEO-elect and to PTC's Board of Directors.\n\n \n \n \n \n \n \n\n \nThe CEO transition is the culmination of the Board's comprehensive succession planning process to ensure leadership continuity and to position PTC for continued growth. Mr. Heppelmann and Mr. Barua will work closely together through February 2024 to ensure an orderly transition of responsibilities.\nBob Schechter, who has served as Chairman of PTC's Board of Directors for the last eight years, said, \"Neil is the ideal person to lead PTC in its next chapter. He's a seasoned technology executive with a proven track record of growing software businesses and supporting industrial companies with their digital transformation journeys. He combines this with a strong financial acumen, a customer-first mindset, and a leadership style that empowers employees. The Board and I have great confidence that PTC has a bright future ahead with Neil serving as CEO alongside the rest of the Company's experienced leadership team.\"\nMr. Schechter continued, \"Throughout his tenure as CEO, Jim has demonstrated unwavering commitment to PTC, and his positive impact on the Company cannot be overstated. His visionary leadership has helped transform PTC into the category leader in the product lifecycle management market and has driven record financial performance for shareholders. The Board sincerely thanks Jim for all his contributions to date, and we look forward to our continued work together.\"\nMr. Heppelmann said, \"I'm immensely proud of all that PTC has accomplished during my 26 years with the Company, including these last 13 as CEO. PTC has become a premier digita...