AspenTech Announces CFO Retirement
Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to
the process industries, today announced the retirement of Mark Sullivan, the
company’s Executive Vice President and Chief Financial Officer, effective
September 30, 2015. The company will conduct a formal search process for a new
CFO. Mr. Sullivan remains CFO and will continue with the company through his
retirement date to ensure a smooth transition process.
Antonio Pietri, President and
Chief Executive Officer, said, “Mark has been a valued and important part of
the AspenTech management team during the past six years. He built a world-class financial organization,
led the company through an important transition period, and contributed to the
strong financial performance of our company.
On behalf of the entire AspenTech team, I am grateful for the contributions
Mark has made during his time with the company and wish him all the best in his
Sullivan, AspenTech’s Executive Vice President and Chief Financial Officer,
said, “I’m proud of all that AspenTech has accomplished in my time as CFO,
including successfully transitioning our business model, significantly
improving our capital structure and delivering strong growth and cash
flow. I am confident AspenTech is well
positioned to continue performing at a high level in the future.”
has been with AspenTech since 2009 after spending more than 20 years in
financial management and executive leadership roles.
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.
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 AspenTech’s expectations based on a number of risks and
uncertainties, including, without limitation:
AspenTech’s failure to increase usage and product adoption of aspenONE
offerings, and failure to continue to provide innovative, market-leading solutions;
demand for, or usage of, aspenONE software declines for any reason; unfavorable
economic and market conditions or a lessening demand in the market for process
optimization software; 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 obligation
to update forward-looking statements after the date of this press release.
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