AspenTech Announces CFO Retirement
By Business Wire News
Aspen 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 retirement.”
Mark 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.”
Sullivan 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.
The third 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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