PTC Expands Roles for Executive Team Members

Company Names Mike DiTullio to President, Digital Thread Group; Catherine Kniker to Chief Strategy and Sustainability Officer

BOSTON, May 24, 2022 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced expanded roles for two members of its executive team, both effective immediately. Long-time PTC executive and current president of PTC's Velocity group Mike DiTullio will take over as president of the company's larger Digital Thread group. In addition, PTC's current Chief Strategy Officer Catherine Kniker will expand her charter in a newly formed role as Chief Strategy and Sustainability Officer. Troy Richardson, who has served as president of PTC's Digital Thread group for the past year, will leave the company after a period of transition.

"As a proven leader at PTC over the past 24 years, Mike DiTullio has consistently demonstrated an ability to drive success, helping build the businesses that make up our Digital Thread group to the level of performance we enjoy today," said Jim Heppelmann, president & CEO. "Over the past year leading the Velocity group, Mike has been steeped in our cloud-native businesses and he will carry his SaaS and general management knowledge to this expanded role as we seek to continue to grow and transition our Digital Thread businesses to SaaS."

During his long career as a sales leader, DiTullio has built deep relationships with PTC customers around the world leveraging the company's entire product portfolio. Assuming leadership of PTC global sales and marketing in 2015, DiTullio helped the company transition to a subscription business model and adopt a digital-first marketing strategy, both of which were key factors in PTC's ability to drive sustained growth throughout the downturn caused by the pandemic. In 2021, DiTullio was named president of PTC's Velocity group, where he has been responsible for managing the company's Onshape and Arena businesses.

"It has been my distinct privilege to lead many different teams during my career at PTC," said DiTullio. "In the past year, I've learned a lot from people who have created SaaS businesses from the ground up – putting the customer first, being agile in everything we do, and driving to ensure our products are always available and secure. Having led teams in nearly every part of the world for PTC, I am looking forward to leading such an accomplished, global team and continuing the track record of success for our Digital Thread group."

Across PTC's stakeholder ecosystem, environmental, social, and corporate governance (commonly known as ESG) issues are becoming increasingly important. As a result, PTC will be launching a formal initiative to elevate its work in the field of environmental sustainability, in particular, to identify and help quantify the ways that PTC solutions enable customers to achieve their own sustainability goals. With today's announcement, PTC is elevating environmental sustainability as a responsibility managed at the executive level by Catherine Kniker. Kniker, who is currently EVP and Chief Strategy Officer, joined PTC in 2016 as Chief Revenue Officer for the company's IoT and AR businesses. Since then, she has helped fuel PTC's growth by leading strategic alliances, including the company's strategic alliances with Rockwell Automation, Microsoft, and Ansys, as well as strategy and corporate development, including the acquisitions of Arena Solutions and Intland Software.

Said Kniker: "Sustainability and climate change are no longer peripheral issues for our customers due to consumer demand for more sustainable products and pressure from investors and regulators globally. PTC has a tremendous opportunity with our products to help our manufacturing customers build more sustainable approaches into their product lifecycle – from design and manufacture to repair and reuse and, ultimately, to disposal. Our company's approach to ESG is necessarily cross-functional, and I look forward to championing it."

Related to these developments, Troy Richardson will leave the company after a transition period.

"At PTC, we have a strong organization with a lot of momentum," said Heppelmann. "We value the impact Troy has had in driving PTC's growth and transition to SaaS, and we appreciate his support during this transition."

About 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. For more information, please visit www.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.

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SOURCE PTC Inc.