AspenTech Elects David McQuillin to Board of Directors
David McQuillin will replace Joe Boston as DirectorAspen Technology, Inc. (Nasdaq: AZPN) today announced that David McQuillin has been elected by the Board of Directors to replace Joe Boston, who will become Director Emeritus of the company effective October 1, 2002. At that time, McQuillin will also become President and Chief Executive Officer, as previously announced, succeeding Lawrence B. Evans, who will continue working full-time as Chairman. McQuillin will serve out the remainder of Boston's term, which expires in 2004; with this transition, the Board will continue to be comprised of two AspenTech executives and five outside directors.
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Joe Boston has served as a Director of AspenTech since the company was founded in 1981. He will continue in a part-time role with the company as Senior Corporate Advisor and serve as a technology advisor to the company. McQuillin joined the company in June 1997 as head of worldwide sales and marketing and was promoted to co-chief operating officer in November 2000.
"Joe Boston was one of the founders of AspenTech and has made tremendous contributions to the development of our technologies for modeling and simulating process manufacturing processes," said Larry Evans, AspenTech's Chairman and Chief Executive Officer. "I am glad that we will continue to benefit from his advice and counsel as an advisor to the company, and I welcome David McQuillin to our Board of Directors."
Aspen Technology, Inc. is a leading supplier of enterprise software and services to the process industries, enabling its customers to increase their margins and optimize their business performance. AspenTech's engineering solutions, incorporating Hyprotech's technologies, help companies design and improve their plants and processes, maximizing returns throughout their operational life. AspenTech's supply chain manufacturing solutions allow companies to run their plants and supply chain more profitably, from customer demand through to the delivery of the finished product. Over 1,200 leading companies rely on AspenTech's software every day to drive improvements across their most important engineering and operational processes. AspenTech's customers include: Air Liquide, AstraZeneca, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, GlaxoSmithKline, Lyondell Equistar, Merck, Mitsubishi Chemical, Shell and Unilever. For more information, visit www.aspentech.com.
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