Chris Pike Appointed to Aspen Technology Board of Directors; Pike brings strong investment and leadership experience to position.CAMBRIDGE, Mass. -- Aspen Technology Aspen Technology (NASDAQ: AZPN) provides software and professional services to the manufacturing and process industries which allows companies to model, manage, and control their operations. AspenTech was founded in 1981 by MIT professor Dr. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AZPN), a leading provider of software and services to the process industries, today announced the appointment of Chris Pike to the Company's Board of Directors. Pike replaces Douglas A. Kingsley, who is resigning his position. "On behalf of the entire Board, I would like to thank Douglas Kingsley for his participation on the Board during a critical time in the Company's history. We wish him much success in his future endeavors," said Mark Fusco Mark Fusco (born March 12, 1961 in Burlington, Massachusetts) is a retired ice hockey player. Fusco won the Hobey Baker Award in 1983. He would also be a member of the American 1984 Winter Olympics ice hockey team. , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , AspenTech. Fusco continued: "The addition of Chris Pike's rich background in business and corporate leadership to AspenTech's Board of Directors provides added assurance that AspenTech will deliver on the expectations of our shareholders. His experience will certainly play a role in guiding the future of the Company." Pike has been a partner at Advent International, a global private equity firm, since January 2003, having joined the company as a principal in 1997. During his association with Advent International, Pike has participated in a number of investments, including Contact East Inc., Datek Online Holdings Inc., The Island ECN (Electronic Communications Network) A computerized, private financial trading system. Terra Nova Trading (www.terranovatrading.com) and Instinet (www.instinet.com) are examples. Inc., GFI GFI Ground Fault Interrupter GFI Go For It GFI Government-Furnished Information GFI Growing Families International GFI Goodness of Fit Indices GFI Government Financial Institutions (Philippines) GFI Gross Farm Income Group Inc., Long Term Care Group Inc., Managed Healthcare Associates Inc., RedPrairie Corp., and Americus Dental Labs, Inc. Prior to joining Advent International, he spent five years in the Business Assurance and Financial Services groups of Coopers & Lybrand, providing merger and acquisition advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to clients in the financial, manufacturing and business services industries. Pike is currently a director of GFI Group (NASDAQ: GFIG), Long Term Care Group and Americus Dental Laboratories. He holds a Bachelor of Arts degree in economics and Spanish from Amherst College. About AspenTech Aspen Technology, Inc. provides industry-leading software and professional services that help process companies improve efficiency and profitability by enabling them to model, manage and control their operations. AspenTech's integrated aspenONE(TM) solutions are aligned with the key industry business processes, providing manufacturers the capabilities they need to optimize operational performance, make real-time decisions and synchronize the plant and supply chain. Over 1,500 leading companies already rely on AspenTech's software, including Bayer, BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida , BP, Chevron Corporation, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Sanofi-Aventis, Shell, and Total. For more information, visit www.aspentech.com. This press release may contain forward-looking statements for purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may vary significantly from AspenTech's expectations based on a number of risks and uncertainties, including, without limitation: AspenTech's plan to improve operational performance may not be implemented effectively; AspenTech has identified material weaknesses in its internal controls with respect to software license revenue recognition and other matters, that, if not remedied effectively, could result in material misstatements; risks around securities litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and investigations; AspenTech's lengthy sales cycle makes it difficult to predict quarterly operating results; fluctuations in AspenTech's quarterly operating results; AspenTech's dependence on customers in the cyclical chemicals, petrochemicals and petroleum industries; the possibility of new accounting standards or the interpretation of existing accounting standards affecting our financial results; AspenTech's ability to raise additional capital as required; intense competition; AspenTech's need to develop and market products successfully; reliance on relationships with strategic partners; challenges associated with international operations; 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 current intention to update forward-looking statements after the date of this press release. AspenTech, aspenONE and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass. |
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