BEDFORD, Mass.--(BUSINESS WIRE)--
Progress
Software Corporation (NASDAQ: PRGS), a global software company that
simplifies and enables the development and deployment of business
applications, today announced that Executive Chairman and interim
Chief Executive Officer, Philip
Pead, has been named President and Chief Executive Officer,
effective immediately.
As a result, Mr. Pead will step down as Executive Chairman and will be
replaced by Jack
Egan, who has been elected Non-Executive Chairman of the Board of
Directors. Mr. Egan, a Progress board member since September 2011, is
managing partner of Egan-Managed Capital.
Mr. Pead, an industry veteran with more than 25 years of experience in
the software industry has served as a member of the Progress Board of
Directors since July 2011. He was elected non-executive Chairman in May
2012, appointed Executive Chairman in October 2012 and named interim CEO
in November 2012.
Mr. Pead was formerly the Chairman of Allscripts and the President and
Chief Executive Officer of Eclipsys Corporation, a leading provider of
enterprise clinical and financial software for hospitals. Eclipsys
merged with Allscripts in August of 2010. He previously held senior
leadership roles in several publicly and privately held companies,
including Per-Se Technologies, Dun & Bradstreet Corporation and
Attachmate Corporation.
Quotes:
Phil Pead, President and CEO, Progress Software
"Having
served on the board of Progress for almost a year and a half, and as
Executive Chairman and interim CEO for the past two months, I have been
actively involved in assisting in the transformation of the company. I
am excited and honored that the Board of Directors has asked me to lead
the business. I believe the future of this organization is bright and,
while we are in the early stages of executing on our strategy to become
a leading Application Platform as a Service provider, I am very pleased
with our progress to date."
Jack Egan, Non-Executive Chairman, Progress Software
"It was
the unanimous decision of the Board of Directors that Phil be named
President and Chief Executive Officer. With more than 25 years of
experience in the software industry leading successful public companies
and creating significant shareholder value, Phil is uniquely qualified
to lead Progress Software as we position our company for future growth.
Having been on the Progress Board since September 2011, I am also
delighted to be taking on the role of Chairman."
About Progress Software Corporation
Progress Software
Corporation (NASDAQ: PRGS) simplifies the development, deployment and
management of business applications on-premise or on any Cloud, on any
platform and on any device with minimal IT complexity and low total cost
of ownership. Progress Software can be reached at www.progress.com
or 1-781-280-4000.
Follow Progress Software on Twitter: @ProgressSW
Investor Contact:
Progress Software
Tom Barth, +1
781-280-4135
tom.barth@progress.com
or
Press
Contact:
LEWIS PR
Claire Rowberry, +1 617-226-8841
progresssoftware@lewispr.com
Source: Progress Software Corporation
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