PTC Expands Executive Leadership Team, Names Troy K. Richardson as EVP and Chief Operating Officer

Rhea-AI Summary

PTC announced the appointment of Troy K. Richardson as Executive Vice President and Chief Operating Officer, effective November 16, 2020. With over three decades of leadership experience in the technology sector, Richardson aims to enhance PTC's operational efficiency and growth strategy amidst increasing demand for digital solutions. He previously held significant roles at major corporations like Oracle and IBM. President and CEO Jim Heppelmann expressed confidence in Richardson's capabilities to drive the company forward during a pivotal time in its evolution.

Positive

• Appointment of Troy K. Richardson as COO expected to enhance leadership.
• Richardson brings extensive experience from top tech firms, which can strengthen PTC's market position.

Negative

• Potential concerns about continuity and experience gaps due to leadership change.

BOSTON, Nov. 10, 2020 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced the appointment of Troy K. Richardson as Executive Vice President and Chief Operating Officer, effective November 16, 2020. An accomplished enterprise technology executive, Richardson has more than three decades of sales and operational leadership and has helped drive rapid growth for some of the biggest brands in the software industry.

In this role, Richardson will lead the company's field operations teams including global sales, commercial marketing, customer service, and customer success. Current leaders of those organizations will report to Richardson.

"The recent global shift to remote work has proven the value of digital technology in industrial settings, and accentuated demand for PTC offerings," said Jim Heppelmann, President and CEO, PTC. "Troy is an incredibly talented, high-impact, growth-oriented business leader who we expect will be an incredible asset as we seek to optimize our execution and fully capture the amazing growth opportunity we have. I really appreciate Troy's keen instincts with customers and his strong customer-centric orientation, and I look forward to working closely with him in the coming years as we drive PTC into the future."

During his distinguished career, Richardson has served in business and sales leadership roles at Oracle, IBM, NCR, Novell, HP, and SAP. Most recently, Richardson served as SVP, Global Head of Sales and prior to that served as SVP/GM of the Enterprise and Cloud Applications Business for DXC Technologies, a leading global independent IT services and solutions company. In previous roles, he has proven to be a transformational leader, having led go-to-market transitions, developed partner ecosystems, and overhauled customer value propositions to fuel sales growth.

"I couldn't be more excited to join PTC at this important moment in the company's history," said Richardson. "PTC has an impressive roster of customers, a broad portfolio of innovative technologies, and a strong management team. PTC is on the cusp of a new chapter of its remarkable history and I look forward to helping define it."

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.

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SOURCE PTC Inc.

FAQ

Who is the new COO of PTC?

Troy K. Richardson has been appointed as the new Chief Operating Officer of PTC.

What is the effective date of Troy Richardson's appointment as COO?

Troy Richardson's appointment as COO will take effect on November 16, 2020.

What role will Troy Richardson play at PTC?

As COO, he will lead PTC's field operations including global sales, marketing, and customer service.

What is the significance of Troy Richardson joining PTC?

His extensive background in enterprise technology is expected to help PTC optimize operations and drive growth.