Chantelle Breithaupt Stepping Down for a New
Opportunity, Effective December 31, 2023
Christopher Stagno Appointed Interim CFO,
Effective January 1, 2024
Reaffirms Full Year Fiscal 2024 Guidance
Aspen Technology, Inc. (AspenTech) (NASDAQ: AZPN), a global
leader in industrial software, today announced that Chantelle
Breithaupt has informed the Company that she will step down as
Chief Financial Officer for another opportunity. Ms. Breithaupt
will continue in her role through December 31, 2023. Christopher
Stagno, who currently serves as SVP, Chief Accounting Officer, will
assume the role of Interim CFO, effective January 1, 2024, should a
permanent CFO not have been named.
The Company has commenced a search to identify its next CFO with
the assistance of a leading executive search firm.
“Chantelle has been a remarkable leader throughout her tenure at
AspenTech, playing a significant role in the successful completion
of our transformative transaction with Emerson, which has
positioned AspenTech well for the future,” said Antonio Pietri,
President and Chief Executive Officer of AspenTech. “Chantelle has
built an exceptionally talented finance team that is focused on
executing our strategy and delivering long-term value for our
shareholders. On behalf of the AspenTech team, I thank her for her
invaluable contributions. We are fortunate to have Chantelle’s
ongoing support through the end of the year and wish her all the
best in the next chapter of her career.”
“AspenTech is an outstanding and innovative company, and it has
been a privilege to serve as CFO for the past two and a half
years,” said Ms. Breithaupt. “I am proud of the progress we’ve made
against our strategic and financial goals, and I am confident in
AspenTech’s strategy to continue delivering strong top- and
bottom-line growth as it supports customer’s sustainability and
energy transition objectives. I look forward to working alongside
Antonio and our dedicated finance team over the next few months and
to following AspenTech’s continued long-term success.”
Mr. Stagno is an experienced financial executive with deep
knowledge of AspenTech’s business and over 25 years of leadership
in finance, including at various software companies. Prior to
joining AspenTech in 2020, he served as Treasurer at Cognex
Corporation, a provider of machine vision products, software and
sensors used in automated manufacturing. Before that, he served in
various finance roles, including the Interim CFO role at Brightcove
Inc., a provider of cloud-based services for video, and Unica, an
enterprise marketing software company.
Mr. Pietri continued, “We are thankful to have a leader of
Christopher’s caliber step into the Interim CFO role after
Chantelle’s departure to give the Company the time it needs to
complete its search for a permanent CFO.”
The Company today reaffirmed its outlook for the full year
fiscal 2024, as provided on August 1, 2023. AspenTech will release
financial results for its first quarter fiscal year 2024, ended
September 30, 2023, after the U.S. financial markets close on
Monday, November 6, 2023.
Cautionary Note on Forward-Looking Statements
Statements in this press release that are not strictly
historical may be “forward-looking” statements for purposes of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995, which involve risks and uncertainties, and AspenTech
undertakes no obligation to update any such statements to reflect
later developments. These forward-looking statements include, but
are not limited to, our guidance for fiscal 2024, our expectations
regarding cash collections and completion of our accelerated share
repurchase program. In some cases, you can identify forward-looking
statements by the following words: “may,” “will,” “could,” “would,”
“should,” “expect,” “intend,” “plan,” “strategy,” “anticipate,”
“believe,” “estimate,” “predict,” “project,” “potential,”
“continue,” “ongoing,” “opportunity” or the negative of these terms
or other comparable terminology, although not all forward-looking
statements contain these words. These risks and uncertainties
include, without limitation: the failure to realize the anticipated
benefits of our transaction with Emerson Electric Co.; risks
resulting from our status as a controlled company; the scope,
duration and ultimate impacts of the Russia-Ukraine conflict; as
well as economic and currency conditions, market demand (including
related to the pandemic and adverse changes in the process or other
capital-intensive industries such as materially reduced spending
budgets due to oil and gas price declines and volatility), pricing,
protection of intellectual property, cybersecurity, natural
disasters, tariffs, sanctions, competitive and technological
factors, and inflation; and others, as set forth in AspenTech’s
most recent Annual Report on Form 10-K and subsequent reports filed
with the Securities and Exchange Commission.
About AspenTech
Aspen Technology, Inc. (NASDAQ: AZPN) is a global software
leader helping industries at the forefront of the world’s dual
challenge meet the increasing demand for resources from a rapidly
growing population in a profitable and sustainable manner.
AspenTech solutions address complex environments where it is
critical to optimize the asset design, operation and maintenance
lifecycle. Through our unique combination of deep domain expertise
and innovation, customers in asset-intensive industries can run
their assets safer, greener, longer and faster to improve their
operational excellence. To learn more, visit AspenTech.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231019238533/en/
Media Contact Aimee Rhone AspenTech +1 781-221-5507
aimee.rhone@aspentech.com
Investor Contact Brian Denyeau ICR +1 646-277-1251
brian.denyeau@icrinc.com
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