Antonio Pietri, Executive VP of Worldwide Field Operations, to become
CEO on October 1, 2013
BURLINGTON, Mass.--(BUSINESS WIRE)--Apr. 30, 2013--
Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software
and services to the process industries, today announced an executive
transition plan to take place over the next two quarters. Antonio
Pietri, currently AspenTech’s Executive Vice President of Worldwide
Field Operations, will become the company’s President and Chief
Executive Officer, effective October 1st, 2013. Mark Fusco
will continue to serve as the company’s President and Chief Executive
Officer during this transition period, after which time he will be
retiring to spend more time with his family.
Pietri has been with AspenTech for the past 17 years, joining the
company through its acquisition of Setpoint where he served as a sales
manager for the South American region. He’s taken on increasingly senior
executive management positions at AspenTech during his tenure, including
serving as Executive Vice President of Worldwide Field Operations since
2007. Previous positions with AspenTech included Managing Director of
the Asia Pacific Region, Vice President of Business Consulting, and
other operating roles in sales and global services.
Prior to joining Setpoint, Pietri worked at ABB Simcon as an
applications engineer where he implemented advanced control and
multi-variable controllers on refining processes. He holds a Bachelor of
Science degree in Chemical Engineering from the University of Tulsa and
an MBA degree from the University of Houston.
Mark Fusco, AspenTech’s President and Chief Executive Officer, said, “It
has been a privilege to serve as AspenTech’s CEO for the last eight
years. I’m very proud of what our team has accomplished in driving
consistent growth, generating strong cash flow, improving our capital
structure and transitioning the company’s business model. Our collective
efforts have contributed to a significant increase in shareholder value.”
Fusco added, “A major contributor to AspenTech’s success has been
Antonio Pietri, and we believe he is the perfect candidate to serve as
the company’s next CEO. He has deep domain expertise and a long-term
track record of driving strong performance across all of AspenTech’s
customer facing operations on a global basis. AspenTech is executing at
a high level, and we are very fortunate to have an executive with
Antonio’s strong background and executive leadership experience to
sustain the company’s strong momentum.”
Antonio Pietri, AspenTech’s Executive Vice President of Worldwide Field
Operations and President and Chief Executive Officer-Designate, said
“I’m honored to be named the next CEO of AspenTech, where I’ll be able
to leverage my executive leadership experience to build on Mark’s
tremendous track record. We believe there is a significant opportunity
for our customers to realize additional business value by expanding
their usage of our aspenONE suite, which also positions AspenTech well
for continued strong growth, profitability and cash generation in the
years ahead. AspenTech has a very bright future, and I look forward to
leading the company’s world-class management team and working with Mark
in the months ahead, as I have for many years.”
In addition, Pietri will join AspenTech’s Board of Directors, effective
July 1, 2013. Fusco has notified the company that he will resign from
AspenTech’s Board of Directors, effective as of the close of business on
September 30, 2013, at the end of the executive transition.
About AspenTech
AspenTech is a leading supplier of software that optimizes process
manufacturing – for energy, chemicals, engineering and construction, and
other industries that manufacture and produce products from a chemical
process. With integrated aspenONE solutions, process manufacturers can
implement best practices for optimizing their engineering, manufacturing
and supply chain operations. As a result, AspenTech customers are better
able to increase capacity, improve margins, reduce costs and become more
energy efficient. To see how the world’s leading process manufacturers
rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com.
Forward Looking Statements
The sixth paragraph of this press release contains 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 expectations based on a number of risks and
uncertainties, including, without limitation: demand for, or usage of,
aspenONE software declines for any reason; AspenTech’s failure to
realize the anticipated financial (including cash flow) and operational
benefits of the aspenONE subscription offering; and other risk factors
described from time to time in AspenTech’s periodic reports filed with
the Securities and Exchange Commission.
© 2013 Aspen Technology, Inc. AspenTech and aspenONE are registered
trademarks, and the Aspen leaf logo is a trademark, of Aspen Technology,
Inc. All rights reserved. All other trademarks are property of their
respective owners.
Source: Aspen Technology, Inc.
Media Contact
AspenTech
DoShik Wood, +1 781-221-5730
doshik.wood@aspentech.com
or
Investor
Contact
ICR
Brian Denyeau, +1 646-277-1251
brian.denyeau@icrinc.com