NEEDHAM, Mass.--(BUSINESS WIRE)--PTC (Nasdaq: PTC) today announced that its Board of Directors has declassified the PTC Board, effective immediately. Instead of three classes of directors elected for staggered three-year terms, all PTC’s directors will be elected annually, beginning at the 2015 Annual Meeting of Stockholders.
"Our decision to declassify the Board of Directors is consistent with PTC’s commitment to corporate governance practices that are aligned with shareholders' interests," said Paul Lacy, chairman of PTC’s Corporate Governance Committee.
PTC and the PTC logo are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and in other countries. All other companies referenced herein are trademarks or registered trademarks of their respective holders.
PTC (Nasdaq: PTC) enables manufacturers to achieve sustained product and service advantage. PTC’s technology solutions help customers transform the way they create, operate and service products for a smart, connected, world. Founded in 1985, PTC employs approximately 6,000 professionals serving more than 28,000 businesses in rapidly-evolving, globally distributed manufacturing industries worldwide. Get more information at www.ptc.com.