Former Autodesk, Inc. Senior Executive to Lead Progress Software's Next
Phase of Growth
BEDFORD, Mass.--(BUSINESS WIRE)--
Progress
Software Corporation (NASDAQ: PRGS), a leading software provider
that enables enterprises to be
operationally responsive, today announced the appointment of
accomplished software technology executive Jay Bhatt as its President
and Chief Executive Officer, effective December 5, 2011. Mr. Bhatt will
also be elected to the Progress Software Board of Directors.
Michael Mark, Chairman of the Progress Board of Directors, commented:
"We are delighted to welcome Jay Bhatt to Progress Software. Jay has
successfully driven the strategy and day-to-day operations of Autodesk's
largest vertical business unit for the past eight years. The Progress
Board of Directors is in unanimous agreement that Jay has the right
combination of experience, skills and talent to lead Progress Software
and drive the company's strategic vision and execution."
"I am honored to be selected for this important role and thrilled to be
joining Progress Software at this critical time in the company's
evolution," said Jay Bhatt. "Progress has an excellent team, a large and
impressive customer base, a loyal partner group and a very attractive
portfolio of innovative products and solutions that enable businesses to
become more responsive. I look forward to leading the company through
the changing business landscape and strongly believe that Progress is
positioned to succeed in the future with both a winning strategy and a
technology portfolio that is critical to its partners and customers," he
added.
Prior to joining Progress Software, Jay Bhatt was responsible for
Autodesk's global Architecture, Engineering, and Construction (AEC)
Solutions Division. In this role, Mr. Bhatt had responsibility for
software development, marketing, product management, product design,
business development, finance and human resources. Prior to this role,
Mr. Bhatt led Autodesk's Corporate Development, Business Development and
Strategy functions, and was responsible for driving M&A, strategic
partnerships and corporate strategic planning.
Beginning in 2000, Mr. Bhatt served as the Chief Financial Officer and
Head of Corporate Development for Buzzsaw.com, Inc., which was acquired
by Autodesk in 2001. Earlier in his career, he worked as an investment
banker.
Mr. Bhatt received a Bachelor of Arts degree from the University of
Pennsylvania, and a Juris Doctor degree from the University of
California, Los Angeles (UCLA) School of Law.
Richard D. Reidy, who announced on August 1, 2011 that he would leave
Progress Software once a successor was found, will step down as
President and Chief Executive Officer and as a member of the Progress
Software Board on December 5th.
Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) is a global software
company that enables enterprises to be operationally responsive to
changing conditions and customer interactions as they occur — to
capitalize on new opportunities, drive greater efficiencies and reduce
risk. The company offers a comprehensive portfolio of best-in-class
infrastructure software spanning event-driven visibility and real-time
response, open integration, data access and integration, and application
development and deployment — all supporting on-premises and SaaS/Cloud
deployments. Progress Software maximizes the benefits of operational
responsiveness while minimizing IT complexity and total cost of
ownership. Progress Software can be reached at www.progress.com
or +1-781-280-4000.
Progress Software Corporation
Investor
Relations:
Tom Barth, +1 (781) 280-4135
tobarth@progress.com
or
Press
Relations:
John Stewart, +1 (781) 280-4101
jstewart@progress.com
Source: Progress Software Corporation
News Provided by Acquire Media
