Progress Announces Appointment of YuFan Stephanie Wang to the Role of Chief Legal Officer

Rhea-AI Summary

Progress (Nasdaq: PRGS) has appointed YuFan Stephanie Wang as the new Executive Vice President, Chief Legal Officer, and Secretary. Stephanie will oversee legal, compliance, and corporate governance efforts. Having joined Progress in May 2022, she previously held a senior legal role at W. P. Carey Inc. and has made significant contributions to Progress's corporate governance and M&A strategies. CEO Yogesh Gupta expressed confidence in her capabilities to drive future growth and stability for the company.

Positive

• Appointment of Stephanie Wang enhances legal and compliance expertise.
• Stephanie Wang's previous experience strengthens corporate governance.
• CEO's confidence reflects potential for positive leadership impact.

Negative

• Transition from Stephen H. Faberman may introduce temporary continuity concerns.

BURLINGTON, Mass., Sept. 26, 2022 (GLOBE NEWSWIRE) -- Progress (Nasdaq: PRGS), the trusted provider of infrastructure software, today announced the appointment of YuFan Stephanie Wang (Stephanie) to the role of Executive Vice President (EVP), Chief Legal Officer (CLO) and Secretary. In this role, Stephanie will oversee all aspects of Progress’ legal, compliance and corporate governance efforts.

“We are thrilled to have Stephanie in the role of Chief Legal Officer,” said Yogesh Gupta, CEO, Progress. “In the short time she’s been with Progress, Stephanie has made a significant impact in the areas of corporate governance, M&A efforts related to Total Growth Strategy, our ESG efforts, and more. We are confident she will continue to excel in her new role.”

Prior to joining Progress, Stephanie was with W. P. Carey Inc. (NYSE:WPC), a $1.3B revenue public real estate investment trust, where she most recently held the role of Senior Vice President and Deputy Chief Legal Officer. In this capacity, she was principal legal advisor on all corporate transactions and issues, including capital markets, M&A, SEC filings and public communications. Stephanie also served as Secretary of WPC’s Audit Committee and of the Boards of its other public affiliates. She was also a founding member of WPC’s Environmental, Social, and Governance (ESG) and Diversity, Equity and Inclusion (DEI) committees. Stephanie previously practiced in the corporate departments of Proskauer Rose LLP and Clifford Chance US LLP.

“Progress has a tremendous track record of delivering innovative products and driving customer success. Moreover, there are very few software companies that have been publicly listed for over 30 years,” said Stephanie Wang, Chief Legal Officer. “I look forward to helping safeguard that legacy by taking an active role in ensuring the business’ stability, while we continue to drive growth opportunities for our internal and external stakeholders.”

Stephanie joined Progress in May 2022 and has been serving as Acting Chief Legal Officer while her predecessor, Stephen H. Faberman, was on extended leave. Steve was with Progress for over 14 years, emerging as a principled leader, mentor, colleague and friend. Progress extends its warmest regards and eternal gratitude for his many years of dedicated service to the company and its people.

About Progress
Dedicated to propelling business forward in a technology-driven world, Progress (Nasdaq: PRGS) helps businesses drive faster cycles of innovation, fuel momentum and accelerate their path to success. As the trusted provider of the best products to develop, deploy and manage high-impact applications, Progress enables customers to develop the applications and experiences they need, deploy where and how they want and manage it all safely and securely. Hundreds of thousands of enterprises, including 1,700 software companies and 3.5 million developers, depend on Progress to achieve their goals—with confidence. Learn more at www.progress.com and follow us on LinkedIn, YouTube, Twitter, Facebook and Instagram.

Progress is a trademark or registered trademark of Progress Software Corporation and/or one of its subsidiaries or affiliates in the US and other countries. Any other trademarks contained herein are the property of their respective owners.

Press Contacts:
Kim Baker
Progress
+1 781-280-4000
pr@progress.com

 

FAQ

What is the recent management change at Progress?

Progress appointed YuFan Stephanie Wang as Executive Vice President and Chief Legal Officer, effective immediately.

Who is Stephanie Wang and what experience does she bring to Progress?

Stephanie Wang has experience as Senior Vice President at W. P. Carey Inc. and has a background in corporate transactions and governance.

What impact might Stephanie Wang's appointment have on Progress?

Her leadership is expected to enhance legal compliance and corporate governance, supporting the company's growth strategy.

Who did Stephanie Wang replace at Progress?

She replaces Stephen H. Faberman, who took an extended leave after 14 years with the company.