James E. Cashman to Become Chairman of
the Board of Directors Effective January 1, 2017
ANSYS, Inc. (NASDAQ:ANSS) today announced a leadership succession
plan. James E. Cashman, who has served as ANSYS’ Chief Executive
Officer since 2000, will become Chairman of the Board of Directors
effective January 1, 2017. Dr. Ajei S. Gopal, a technology industry
veteran who has served as a member of the ANSYS Board since 2011,
has been appointed President and Chief Operating Officer effective
immediately and will continue to serve on the Board. Dr. Gopal will
become Chief Executive Officer on January 1, 2017. Ronald W.
Hovsepian, who currently serves as Chairman of the ANSYS Board,
will assume the role of Lead Independent Director as part of this
transition.
Mr. Hovsepian said, “We are grateful to Jim for
his remarkable leadership. He led ANSYS’ transformation from a $50
million revenue company into the global market leader for
simulation technology with nearly $1 billion in revenue, creating
significant value for stockholders. On behalf of the entire Board,
I thank Jim for his countless contributions and unwavering
commitment to ANSYS. His decision to implement this leadership
succession plan was made with much thought and consideration, and
we appreciate him working with the entire Board to help identify
his successor and facilitate a smooth transition. We all look
forward to benefitting from his continued guidance, vision and
expertise as Chairman.”
Mr. Cashman said, “Over the past 20 years, we
have grown ANSYS to become the world’s leading engineering software
provider thanks to our relentless focus on innovation and
commitment to our customers. Today, ANSYS has the most talented
employees in the industry, a best-in-class portfolio, more than
45,000 customers worldwide and a sound growth strategy to take us
into the future. As we look to scale to $2 billion in revenues and
beyond, I strongly believe that now is the right time to begin the
transition to the next generation of leadership. Attracting Ajei, a
technology industry veteran with an exceptional track record, is a
huge win for ANSYS. I have come to know and admire Ajei as a fellow
director, and I have no doubt that his outstanding leadership,
unique perspective and appreciation for ANSYS’ culture, people and
organization make him the right choice to serve as our next leader
during this exciting time.”
Dr. Gopal is a 25-year industry veteran with
extensive management and business development experience at large
software and technology companies. He has held leadership roles at
companies including Symantec, Hewlett-Packard, CA Technologies and
IBM, and also brings start-up experience, having co-founded
ReefEdge Networks. He joined Silver Lake in April 2013 as an
operating partner.
Dr. Gopal’s appointment as Mr. Cashman’s
successor follows an extensive search conducted by the ANSYS Board
with the assistance of Heidrick & Struggles, a leading
independent executive search firm. The search included a review of
both internal and external candidates.
Mr. Hovsepian continued, “There is no better
person than Ajei to lead ANSYS through this pivotal time in the
Company’s expansion. He brings a proven track record, expertise
managing the scale and complexity of a global multi-billion dollar
company and critical skills in software strategy, engineering,
product management and development. Ajei has profound knowledge of
our business and strategic direction, as well as significant
financial discipline. We are excited to enter our next phase of
growth under his leadership.”
Dr. Gopal said, “I am honored by the opportunity
to lead ANSYS. With an accelerating pace of innovation, ANSYS is on
an exciting growth trajectory as it executes on its long-term
plans. Jim’s vision and tremendous leadership have set a high bar,
and I am committed to building on our standard of excellence and
pushing the boundaries of innovation to help customers solve their
most complex design challenges. I look forward to working with Jim,
the Board, our leadership team, employees and customers around the
globe to continue our legacy and capture the vast market
opportunity ahead to drive stockholder value.”
Separately and unrelated to the leadership
succession plan, ANSYS also announced today that Robert Kocis, Vice
President, Worldwide Sales and Support will depart on October 1,
2016, to pursue another opportunity in the Managed Services
industry. ANSYS has a deep bench of sales talent and the sales
organization will report to Dr. Gopal in his capacity as President
and COO, effective immediately.
About Ajei GopalDr. Gopal, 54,
joined the ANSYS Board in February 2011. He has been an operating
partner at Silver Lake since April 2013. In 2016, Dr. Gopal was
seconded from Silver Lake to serve as interim president and COO at
Symantec, leading the company through the acquisition of Blue Coat
and the recruitment of a permanent CEO. Prior to Silver Lake, he
was senior vice president and general manager at Hewlett-Packard
from 2011. Earlier, Dr. Gopal was executive vice president at CA
Technologies, which he joined in 2006. From 2004 to 2006, he served
as executive vice president and chief technology officer of
Symantec. Until 2004, Dr. Gopal was with ReefEdge Networks, a
company he co-founded in 2000. Before that, he worked at IBM from
1991 to 2000, initially at IBM Research, and later in IBM’s
Software Group. He began his career as a member of the technical
staff at Bell Communications Research. Dr. Gopal has 23
U.S. patents to his name and has a doctorate in
computer science from Cornell University and a bachelor’s
degree from the Indian Institute of Technology in Bombay.
About ANSYS, Inc.ANSYS brings
clarity and insight to customers' most complex design challenges
through fast, accurate and reliable engineering simulation. Our
technology enables organizations ― no matter their industry ― to
predict with confidence that their products will thrive in the real
world. Customers trust our software to help ensure product
integrity and drive business success through innovation. Founded in
1970, ANSYS employs almost 3,000 professionals, many of them
experts in engineering fields such as finite element analysis,
computational fluid dynamics, electronics and electromagnetics, and
design optimization. Headquartered south of Pittsburgh,
Pennsylvania, U.S.A., ANSYS has more than 75 strategic sales
locations throughout the world with a network of channel partners
in 40+ countries.
Forward Looking
InformationCertain statements contained in this press
release regarding matters that are not historical facts, including,
but not limited to, statements regarding the Company’s leadership
succession plan, Mr. Cashman becoming Chairman of the Board of
Directors effective January 1, 2017, Dr. Gopal becoming Chief
Executive Officer effective January 1, 2017 and Mr. Hovsepian
becoming the Board’s Lead Independent Director, statements
regarding Mr. Cashman’s continued guidance, vision and expertise as
Chairman, statements regarding looking to scale to $2 billion in
revenues and beyond, statements regarding the next generation of
leadership, statements regarding Dr. Gopal leading ANSYS through
this pivotal time in the Company’s expansion, statements regarding
the Company’s next phase of growth under Dr. Gopal’s leadership,
statements regarding the Company’s accelerating pace of innovation,
exciting growth trajectory and execution of its long-term plans,
statements regarding building on our standard of excellence and
pushing the boundaries of innovation to help customers solve their
most complex design challenges, and statements regarding continuing
our legacy and capturing the vast market opportunity to drive
stockholder value are "forward-looking" statements (as defined in
the Private Securities Litigation Reform Act of 1995). Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. All forward-looking statements in this
press release are subject to risks and uncertainties as detailed
from time to time in reports filed by ANSYS, Inc. with the
Securities and Exchange Commission, including ANSYS, Inc.'s 2015
Annual Report and Form 10-K filed February 25, 2016. We undertake
no obligation to publicly update or revise any forward-looking
statements, whether changes occur as a result of new information or
future events, after the date they were made.
ANSYS and any and all ANSYS, Inc. brand,
product, service and feature names, logos and slogans are
registered trademarks or trademarks of ANSYS, Inc. or its
subsidiaries in the United States or other countries. All
other brand, product, service and feature names or trademarks are
the property of their respective owners.
Visit www.ansys.com for more information. The
ANSYS IR App is now available for download
on iTunes and Google Play. ANSYS also has a strong
presence on the major social channels. To join the simulation
conversation, please visit: www.ansys.com/Social@ANSYS
Contact:
Investors: Annette Arribas, CTP
724.820.3700
annette.arribas@ansys.com
Media: Amy Pietzak
724.820.4367
amy.pietzak@ansys.com
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