Thl appoints exblackboard ceo bhatt as managing director pe. Jay has made over 1 trades of the progress software stock since 2011, according to the form 4 filled with the sec. The surprising decision comes in the midst of a major strategy. Blackboard ceo jay bhatt on the global future of edtech. Jay bhatt will step down in december as chief executive of progress software corp. Progress software chief leaving after 12 months the. In a letter to progress software chief executive jay bhatt and the companys board, starboard said the strategic plan addresses many of its concerns and represents a large step in the right. Jay bhatt, the chief executive of progress software, is slated to replace chasen. Michael chasen, founder and ceo of blackboard, will depart company. Progress software to eliminate up to 260 jobs the boston. As ceo of blackboard, bhatt combined the companys product portfolio into offerings called solutions. Progress new ceo, jay bhatt the surprise move put the aec division under an unscripted spotlight at last weeks autodesk university. Jay bhatt will step down in december as chief executive of progress software bedford, one year after accepting the post.
Chasen will be replaced by jay bhatt, currently president and ceo of progress software. Jay bhatt chief executive officer at alfresco the org. Rapidly create and deploy purposebuilt, aidriven chatbots as virtual agents. Blackboard ceo michael chasen last of founders to depart. Jay has a deep background building and growing software and technology companies, spanning early stage privately held. Prgs from 2011 to 2012, a global software company providing. Shares of enterprise software maker progress software. Its been a year and now the ceo of a mutlibillion dollar technology company jay bhatt, ceo of progress software and formerly of autodesk has been tapped to fill his shoes. Blackboard announces ceo transition michael chasen steps down as blackboard ceo. Progress software appoints jay bhatt president and chief executive officer. Progress software will cut up to 15% of its workforce.
Deliver mobile and web experiences faster using open source frameworks and a lowcode backend that accelerates existing enterprise and legacy systems. Lee partners, a private equity firm and owner of alfresco. Chasen has announced that he will step down as president, ceo and director of blackboard inc. Lee partners lp hired jay bhatt as a managing director for.
In other words, bhatt didnt have anything to do with the enterprise software companys most. Blackboard founder and ceo resigns what it means for the lms. New york, may 7, 2012 prnewswire starboard value lp, one of the largest shareholders of progress software corporation with current ownership of approximately 5. Previously, bhatt was responsible for autodesk incs global. Bhatt was president and ceo of progress software corporation prgs, 2. The company, which makes business management software, said the. Progress tapped jay bhatt as its new ceo a few weeks ago, replacing longtime helmsman richard reidy. Progress software chief leaving after 12 months the boston globe. Jay bhatt, ceo of progress software, tapped to lead company oct 15, 2012 washington, oct. Bhatt s professional profile on relationship science, the database of decision makers. Bhatt was president and ceo of progress software corporation nasdaq. Progress has tapped jay bhatt as its new leader, starting dec.
View jay bhatt s profile on linkedin, the worlds largest professional community. Progress software says ceo resigns, warns on revenue reuters. Prgs from 2011 to 2012, a global software company providing application development and support tools. Starboard sends letter to progress software president. Progress software announces ceo to depart in december 2012. Progress software s share price was down some 14 percent today after it announced that ceo jay bhatt, who has been with the company for less than twelve months, will be resigning to. Progress software corporation today announced that jay bhatt plans to step down as president and chief executive officer and as.
The company also announced that jay bhatt planned to step down from the positions and as a director, effective december 7. Bhatt had responsibility for software development, marketing, product management, product design, business development, finance and human resources. Jay is an experienced global technology leader with a track record of growing software companies. Jay bhatt, ceo of progress software, tapped to lead company. Use angular, typescript or javascript to build truly native mobile apps for ios and android. Progress software names jay bhatt president, ceo boston.
Bhatt came to the company after serving as the ceo of progress software. Software for great digital experiences progress software. View jay bhatts profile on linkedin, the worlds largest professional community. Previously, bhatt was a senior executive at autodesk inc. Progress software appoints jay bhatt president and chief. Consider that bhatt s previous software companies, autodesk and progress. Senior executive to lead progress software s next phase of growth. Prior to joining progress software, jay bhatt was responsible for autodesks global architecture, engineering, and construction aec solutions division. Jay bhatt succeeded chasen as ceo of the company in october 2012. Jay bhatt, the president and chief executive of progress software, is to take his place.
Prgs said its ceo jay bhatt would be stepping down less than a year after the former. Senior executive to lead progress software s next phase of. Benchmark is wondering whats the back story in progress software about to replace its lessthanyearlong ceo, jay bhatt. Update 1progress software appoints new ceo reuters. No, what i would say, first let me just remind, our guidance.
Rather, its the choice of bhatt as the next ceo that signals a rapidly. Progress software corps ceo jay bhatt resigned within a year of his appointment, marking another executive departure at the software maker that has been restructuring its businesses and cutting. Prgs announced bhatts departure last week, but didnt make any hint as to where he was headed. Progress software shares slide as ceo quits computerworld. In october 2012, progress software sold the brands sonic, savvion, actional and dataxtend dxsi to trilogy which created the company aurea software.
Jay bhatt, ceo of progress software and formerly of autodesk has. Nov 28 reuters business software maker progress software corp appointed jay bhatt as its chief executive officer effective dec. Before joining alfresco, jay was the lead investor for alfresco at thomas h. Mr jay bhatt has been appointed president and chief executive officer of progress software. Prior to his role at progress, he was the senior vice president of the global architecture, engineering and construction solutions division at autodesk, inc. Michael chasen, founder and ceo of blackboard, will depart.
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