PTC Names Robert Ranaldi Executive Vice President of Worldwide Sales and Distribution

PTC (Nasdaq: PMTC), The Product Development Company^®, today named Robert “Bob” Ranaldi as executive vice president of worldwide sales and distribution, effective immediately. Ranaldi joined PTC in 1998, serving most recently as divisional vice president for PTC’s North American Commercial Business.

“Bob uniquely combines insight into customer requirements with deep knowledge of the value our expanding product portfolio provides,” said James Heppelmann, president and CEO of PTC. “The market continues to respond well to our innovative PLM solutions and we are seeing a resurgence in demand for CAx-related products at an enterprise level as well. We are confident that Bob’s commitment to sales operational excellence will enable us to leverage our technology leadership into continued success with customers and business partners around the world.”

“PTC has clearly demonstrated a technology leadership position and significant market momentum,” said Ranaldi. “I look forward to working with the rest of the PTC executive team to capitalize on rapidly evolving market opportunities, continue delivering value to customers and further accelerate our growth.”

Prior to his current role, Ranaldi held sales leadership roles at PTC in North America and across Europe where he helped build high performance teams in both direct and indirect channels. He served as country manager in Northern Europe, as well as vice president for PTC’s SMB business in North America. Prior to joining PTC, Ranaldi was in sales management at Boston Scientific Corporation.

Ranaldi replaces Paul Cunningham, who is leaving to pursue other opportunities.

“During his time at PTC, Paul made many valuable contributions to our growth and expansion into new markets and new channels,” said Heppelmann. “On behalf of the entire PTC management team, I would like to thank Paul for his many years of service and wish him the best in his future endeavors.”

About PTC

PTC (Nasdaq: PMTC), The Product Development Company^®, develops, markets and supports product development software solutions and related services that help companies achieve their product development strategies and optimize their processes. Using the company’s tightly integrated CAD and enterprise PLM solutions, organizations are better able to create and manage product information throughout the lifecycle for optimal product development success.

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PTC, the PTC logo and The Product Development Company are trademarks or registered trademarks of Parametric Technology Corporation and its subsidiaries in the United States and other countries.