Msc.Software (NYSE:MNS)
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William J. Weyand to Succeed Frank Perna as Chairman and CEO of
MSC.Software Corporation
SANTA ANA, Calif., Feb. 11 /PRNewswire-FirstCall/ -- MSC.Software Corp.
(NYSE:MNS), the leading global provider of Virtual Product Development (VPD)
solutions, including simulation software and services, today announced that its
Board of Directors has appointed William J. Weyand, an experienced software
industry executive, as its new Chief Executive Officer and Chairman of the
Board of Directors. He succeeds Frank Perna who will be retiring as CEO and
Chairman.
Mr. Weyand, who currently serves as a director of MSC.Software, has spent over
35 years in the technology industry in various sales, marketing, and CEO
positions with companies providing software, systems and services on a global
basis. Most notably, from 1997 to 2001, Mr. Weyand served as Chairman and
Chief Executive Officer of Structural Dynamics Research Corporation (SDRC), a
NASDAQ-traded company at the time. Mr. Weyand led the evolution of that
business from a technical CAD/CAE software provider to the leader in Enterprise
Product Lifecycle Management (EPLM) solutions. Mr. Weyand left SDRC upon the
completion of its sale to EDS for almost $1 billion in 2001.
In 2003, Mr. Weyand served as Vice Chairman and CEO of Pavilion Technology, a
venture funded ten-year-old worldwide software company and a leader in Advanced
Process Control Solutions.
Donald Glickman, Lead Director of MSC.Software's Board of Directors, said, "We
are delighted that Bill has agreed to take on the role of CEO. He has a proven
track record managing technology companies, including situations that have been
in significant transition. He has directly relevant experience in the
engineering software industry and has proven to be a great asset to the Board
in his short time as a director. We are confident that Bill will continue to
move this company forward operationally and will provide effective senior
leadership in the ongoing efforts to put the non-operational issues behind us."
"I'm honored to have been selected to replace Frank as he retires, am very
pleased to be joining such an excellent company as MSC and excited to be back
leading a major software company again," said Bill Weyand. "I'm looking
forward to working with all our dedicated employees, partners and customers
worldwide and to delivering increased value to our customers and stakeholders."
Frank Perna and the Board of Directors had entered into discussions regarding
succession planning and potential retirement in 2003. With the completion of
the previously announced independent review by the Company's Audit Committee,
Frank has decided to retire.
Donald Glickman said, "We are grateful to Frank Perna for his contributions to
the Company over the years and for his commitment to managing the Company
through a very difficult period over the past 12 months. Frank's strategic
direction has kept MSC.Software at the forefront of the industry and has
positioned the Company for continued leadership and success in the Virtual
Product Development marketplace."
About MSC.Software Corporation
MSC.Software (NYSE:MNS) is the leading global provider of virtual product
development (VPD) products including simulation software and services that help
companies make money, save time and reduce costs associated with designing and
testing manufactured products. MSC.Software works with thousands of companies
in hundreds of industries to develop better products faster by utilizing
information technology, software and services. MSC.Software employs more than
1300 people in 22 countries. For additional information about MSC.Software's
products and services, please visit http://www.mscsoftware.com/.
DATASOURCE: MSC.Software Corp.
CONTACT: Investors, Joanne Keates, Vice President, Investor Relations,
+1-714-444-8551, , or media, Todd Evans,
Corporate Communications, +1-714-445-3066, , both of
MSC.Software Corp.
Web site: http://www.mscsoftware.com/