Certara Appoints James E. Cashman III as Chairman of Board of Directors

Rhea-AI Summary

Certara, Inc. (Nasdaq: CERT) has announced the appointment of James E. Cashman III as Chairman of the Board, effective December 1, 2021. He will succeed Sherilyn McCoy, who is stepping down to focus on other commitments. Cashman, who has served on Certara's Board since 2018, previously led ANSYS, growing its revenue from $50 million to over $1 billion. His expertise in simulation-driven product development is expected to strengthen Certara's innovation and growth strategy. The company specializes in biosimulation technologies enhancing drug development.

Positive

• Appointment of James E. Cashman III as Chairman may enhance leadership and strategic direction.
• Cashman's previous success at ANSYS indicates potential for revenue growth and shareholder value increase.

Negative

• Sherilyn McCoy's departure may raise concerns about continuity in leadership.

High-tech CEO with decades of experience supports continued innovation and growth

PRINCETON, N.J., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Certara, Inc. (Nasdaq: CERT), a global leader in biosimulation, today announced that James E. Cashman III, a current Board member, will be appointed Chairman of the Board of Directors, effective as of December 1, 2021. Jim succeeds Sherilyn McCoy, who is stepping down from the Board to focus on other professional commitments.

"It has been a privilege to serve as Chairman of Certara’s Board of Directors, and I am proud of the Company’s strong performance and accomplishments," said Ms. McCoy. "Certara is well-positioned for continued success with an outstanding leadership team.”

“On behalf of the Board, I would like to thank Sheri for all of her contributions to Certara. We wish her all the best in her endeavors,” said William F. Feehery, Ph.D., CEO of Certara.  “I am excited to continue working with Jim as he assumes the role of Chairman. His proven track record at Ansys and passion for simulation-driven product development will help advance Certara’s innovation and global expansion.”

James E. Cashman III has been a board member at Certara since 2018. He served for 20 years in the CEO and Executive Chairman roles at ANSYS, Inc., the global leader of engineering simulation software. Under his leadership, Ansys grew from $50 million to over $1 billion in revenue and was one of the top five public technology companies in total shareholder returns.

“I am honored to serve as Chairman of Certara’s Board. I am inspired by Certara’s cutting-edge biosimulation technology and its impact on improving the drug development process and patient outcomes,” said James Cashman. “I look forward to working closely with the Board, William and the leadership team to create sustained value for all of Certara’s stakeholders.”

About Certara
Certara accelerates medicines using proprietary biosimulation software and technology to transform traditional drug discovery and development. Its clients include more than 1,650 global biopharmaceutical companies, leading academic institutions, and key regulatory agencies across 61 countries.

Contacts:

Investor Relations
David Deuchler
Gilmartin Group
ir@certara.com

Media
Daniel Yunger
Kekst CNC
daniel.yunger@kekstcnc.com 

Ariane Lovell
Finn Partners
ariane.lovell@finnpartners.com 

FAQ

Who is the new Chairman of Certara, Inc.?

James E. Cashman III has been appointed as the new Chairman of Certara, Inc., effective December 1, 2021.

What is James E. Cashman's background?

James E. Cashman III previously served as CEO of ANSYS, where he grew the company from $50 million to over $1 billion in revenue.

Why is Sherilyn McCoy stepping down from Certara's Board?

Sherilyn McCoy is stepping down to focus on other professional commitments.

How might James E. Cashman's leadership impact Certara?

Cashman brings significant experience in simulation-driven product development, which could enhance Certara's innovation and global expansion efforts.

What is the focus of Certara, Inc.?

Certara specializes in biosimulation software and technology to improve drug development processes.