PTC Announces Transition in Chief Strategy Officer Role

Rhea-AI Summary

PTC has announced the promotion of Catherine Kniker to Executive Vice President and Chief Strategy Officer, effective immediately, succeeding Kathleen Mitford, who is leaving for a role at Microsoft. Kniker joined PTC in 2016 and previously served as Chief Revenue Officer for its IoT and AR divisions. Mitford, who played a key role in PTC's growth strategy, will continue to strengthen the relationship between PTC and Microsoft. This leadership transition signifies PTC's ongoing commitment to innovation in the IoT and AR markets.

Positive

• Catherine Kniker has a strong background in strategy and corporate development, which may drive further growth.
• Kniker has been instrumental in PTC's IoT and AR business since 2016, indicating continuity in leadership.
• The leadership change reinforces the strong alliance with Microsoft.

Negative

• The departure of Kathleen Mitford may impact ongoing strategic initiatives.

BOSTON, April 27, 2021 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced that Catherine Kniker has been promoted to EVP and Chief Strategy Officer, replacing Kathleen Mitford who will leave PTC to join Microsoft as Corporate Vice President, Azure Marketing.

"Joining Microsoft is a great career opportunity for Kathleen. We are happy for her and pleased that she will remain within the PTC ecosystem. We look forward to working with her in her new role," said Jim Heppelmann, President and CEO, PTC. "Over the past 15 years, Kathleen has been instrumental in helping me shape PTC into the company it is today. While I will miss her contribution to PTC, having her in a leadership position at Microsoft will only deepen what is already a strong and mutually beneficial relationship between our two companies. I couldn't be more proud of Kathleen, and wish her the very best in this new chapter of her career."

PTC and Microsoft have a long-standing and strong alliance. "Kathleen brings a depth of expertise in the areas of cloud strategy, product engineering, marketing, and the needs of customers. We're excited to welcome her to Microsoft," said Takeshi Numoto, Commercial Chief Marketing Officer, Microsoft. "PTC is a valued partner and we look forward to our continued work together."

During her tenure at PTC, Mitford held a range of executive roles, including leading the market and competitive strategy team, and then leading the company's core products group including the global research and development efforts. Most recently, as EVP and Chief Strategy Officer, Mitford was responsible for overseeing the company's strategy, corporate development, strategic alliances, corporate marketing, and academic programs. Mitford has helped define the company's strategy for growth in the Internet of Things (IoT), Augmented Reality (AR), and SaaS markets. Mitford is a frequent speaker and advocate for initiatives to drive inclusion, diversity, and women in technology. She has received leadership awards from the Massachusetts Technology Leadership Council and the Manufacturing Institute.

Replacing Mitford in the role of Chief Strategy Officer is Catherine Kniker. Kniker first joined PTC in 2016 as Chief Revenue Officer for the company's fast-growing IoT and AR business unit. Later, she moved into a new role managing PTC's strategic global alliances, including PTC's alliances with Microsoft, Rockwell Automation, and Ansys, and then leading PTC's global corporate development program spearheading the acquisition of Arena Solutions, the largest acquisition in PTC's history. Prior to joining PTC, Kniker served in senior strategy, corporate development, sales and marketing roles at Constant Contact, Syneron Candela, and Genuity.

"Catherine joined PTC at a key moment in our company's transformation and has been a high impact contributor ever since," continued Heppelmann. "I am confident in her leadership skills and know she will seamlessly transition to this important new role. I welcome her as a direct member of my executive leadership team."

About PTC (NASDAQ: PTC)
PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don't just imagine a better world, we enable it.

PTC.com         @PTC         Blogs

Media Contact
PTC
Corporate Communications
Greg Payne
gpayne@ptc.com

Investor Contact
PTC
Investor Relations
Emily Walt
ewalt@ptc.com

PTC and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or its subsidiaries in the United States and other countries.

View original content to download multimedia:http://www.prnewswire.com/news-releases/ptc-announces-transition-in-chief-strategy-officer-role-301277738.html

SOURCE PTC Inc.

FAQ

Who is the new Chief Strategy Officer at PTC?

Catherine Kniker has been promoted to Chief Strategy Officer at PTC.

What position did Kathleen Mitford take after leaving PTC?

Kathleen Mitford has joined Microsoft as Corporate Vice President of Azure Marketing.

What impact does the leadership change at PTC have on the company?

The leadership change aims to maintain continuity in strategy and strengthen the alliance with Microsoft.

When was the announcement regarding the leadership transition at PTC made?

The announcement was made on April 27, 2021.