David McKenna Appointed to Aspen Technology, Inc. Board of Directors; McKenna Brings Global Corporate Leadership To Position
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 18, 2006--Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, today announced the appointment of David McKenna to the Company's Board of Directors. McKenna replaces Chris Pike, who is resigning his position. "On behalf of the entire Board, I would like to thank Chris Pike for his work on the AspenTech Board. We wish him much success in his future endeavors," said Mark Fusco, President and CEO, AspenTech.
Fusco continued: "David McKenna's extensive experience in global corporate leadership is a welcome addition to AspenTech. His strategic insight will play a significant role in guiding the future direction of the Company."
McKenna is a partner at Advent International, a global private equity firm. His work at Advent includes retail and distribution sector transactions and for two years McKenna headed the Hong Kong office, where he focused on buyouts in Greater China and Southeast Asia. In addition, McKenna has co-led or participated in a number of Advent investments, including Boart Longyear, Keystone Automotive Operations Inc., Li & Fung (Distribution) Ltd., Inframetrics Inc., Tweeter Home Entertainment Group Inc., Moulin International Holdings Ltd. and Creative Multimedia Corp.
David McKenna's private equity experience also includes three years as a senior dealmaker with Bain Capital, working on large buyouts in the industrial, retail and consumer sectors. McKenna began his career as a consultant with The Monitor Group, a leading strategy consulting firm. He graduated cum laude with an AB from Dartmouth College.
Aspen Technology, Inc. provides industry-leading software and professional services that help process companies improve efficiency and profitability by enabling them to model, manage and control their operations. The new generation of integrated aspenONE solutions is aligned with the key industry business processes, providing manufacturers the capabilities they need to optimize operational performance, make real-time decisions and synchronize the plant and supply chain. Over 1,500 leading companies already rely on AspenTech's software, including Bayer, BASF, BP, Chevron Corporation, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Sanofi-Aventis, Shell and Total. For more information, visit www.aspentech.com.
AspenTech, aspenONE and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
This press release may contain forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may vary significantly from AspenTech's expectations based on a number of risks and uncertainties, including, without limitation: AspenTech's plan to improve operational performance may not be implemented effectively; AspenTech has identified material weaknesses in its internal controls with respect to software license revenue recognition and other matters, that, if not remedied effectively, could result in material misstatements; risks around securities litigation and investigations; AspenTech's lengthy sales cycle makes it difficult to predict quarterly operating results; fluctuations in AspenTech's quarterly operating results; AspenTech's dependence on customers in the cyclical chemicals, petrochemicals and petroleum industries; the possibility of new accounting standards or the interpretation of existing accounting standards affecting our financial results; AspenTech's ability to raise additional capital as required; intense competition; AspenTech's need to develop and market products successfully; reliance on relationships with strategic partners; challenges associated with international operations; and other risk factors described from time to time in AspenTech's periodic reports filed with the Securities and Exchange Commission. AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. AspenTech expressly disclaims any current intention to update forward-looking statements after the date of this press release.
Aspen Technology, Inc.
Patrick Pecorelli, 617-949-1220
Integrated Corporate Relations
Kori Doherty, 617-217-2084
SOURCE: Aspen Technology, Inc.