Sopheon PLC Directorate Change (9447T)
March 31 2021 - 01:00AM
UK Regulatory
TIDMSPE
RNS Number : 9447T
Sopheon PLC
31 March 2021
SOPHEON PLC
("Sopheon" or the "Company")
Directorate Change
Gregory Coticchia appointed as Chief Executive Officer
Sopheon, an international global leader in enterprise innovation
management solutions, is pleased to announce that Gregory Coticchia
has today joined the Board in the role of Chief Executive
Officer.
Since 12 October 2020 Greg, who is based in the USA, has served
as President of Sopheon responsible for the day to day operations,
with a focus on accelerating the Company's SaaS transition and to
spearhead cloud development plans.
Prior to his appointment Greg worked as a consultant to the
Company. Greg has deep experience in cloud software products and
services, holding executive roles in several organizations ranging
from start-ups to $1bn revenue businesses, where he has been
responsible for driving both organic and acquisition-led growth.
This includes stints serving as CEO, President or COO, as well as
marketing leadership roles. He has launched several new companies,
either as lead entrepreneur or through incubation. Alongside his
leadership and business credentials, he has been involved or
responsible for the launch of over 100 products and solutions and
is a recognized authority within the fields of product management
and product development. Underlining his achievements, prior to
joining Sopheon, Greg was asked to establish the Master's Program
in Product Management at Carnegie Mellon University, and then
served as the executive director of the program while continuing to
provide business coaching and consulting to a variety of corporate
organizations.
Greg Coticchia commented: "Digital transformation continues to
accelerate, and innovation is an urgent imperative for virtually
every company. Sopheon has a large opportunity to build off the
very impressive client base and grow through the expansion of new
cloud solutions. I am both honoured and excited to lead Sopheon in
this next phase of growth."
As part of this planned transition strategy, Andy Michuda has
become Executive Chairman of Sopheon's Board of Directors. Andy
will focus on partnerships and acquisitions, in addition to his
governance responsibilities. Barry Mence, who has been Chairman of
the Board since the Company's inception, will serve as a
non-executive director of Sopheon and remain a major shareholder in
the Company.
Andy Michuda commented: "On behalf of the Sopheon Board, I would
like to officially give a warm welcome to Greg as our new Chief
Executive Officer. Greg's experience and track record in software
and innovation are invaluable. He has already had a significant
impact on the business in his short tenure as President. With Greg
as our Chief Executive, I believe we are well placed to continue to
deliver our SaaS transition, and to access a number of major growth
opportunities in the future. I look forward to working alongside
Greg to deliver value for Sopheon shareholders over the coming
years."
The following information regarding the appointment of Gregory
Michael Coticchia (aged 60) is required to be disclosed under
Schedule 2(g) of the AIM Rules for Companies.
As at the date of this announcement Greg holds no ordinary
shares in the Company and 20,000 options over ordinary shares.
Current Directorships or Partnerships Previous Directorships or Partnerships held in the past 5 years
ENTRA, Incorporated None
PGHPCamp
Axiom Advancement Corp.
----------------------------------------------------------------
There are no further disclosures to be made under Schedule 2(g)
of the AIM Rules for Companies.
For further information contact:
Andy Michuda, Chairman
Arif Karimjee, CFO Sopheon plc + 44 (0) 1276 919 560
Carl Holmes / Giles Rolls (Corporate Finance)
Alice Lane / Sunila de Silva (ECM) finnCap + 44 (0) 20 7220 0500
About Sopheon. Sopheon (LSE: SPE) partners with customers to
provide complete enterprise innovation management solutions
including software, expertise, and best practices, that enable them
to achieve exceptional long-term revenue growth and profitability.
Sopheon's Accolade solution provides unique, fully-integrated
coverage for the entire innovation management and new product
development lifecycle, including strategic innovation planning,
roadmapping, idea and concept development, process and project
management, portfolio management and resource planning. Sopheon's
solutions have been implemented by over 200 customers with over
60,000 users in over 50 countries. Sopheon is listed on AIM,
operated by the London Stock Exchange. For
more information, please visit www.sopheon.com .
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END
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