AspenTech Names Next CEO

EVP to take over in October

Cambridge, MA  March 15, 2002  Software company Aspen Technology this week moved to promote one of its own to be president and CEO, starting later this year.

David McQuillin will move up from his posts as executive vice president and co-chief operating officer to the positions of president and chief executive officer, effective October 1, 2002.

McQuillin, 44, will succeed Lawrence Evans, 67, who will continue working full-time as chairman, focusing on long-term strategy and direction.

"This is the culmination of a long-planned management succession process," said Evans. "I am confident that David has the leadership abilities to be successful as AspenTech's next CEO."

Evans, who founded the company some 20 years ago, added that he had no plans to retire and was looking forward to continuing in an active role as chairman.

Aspen Technology provides solutions to the process industries. The company said its Aspen ProfitAdvantage solution encompasses engineering, manufacturing, supply chain and e-business collaboration technologies, providing tools to help manufacturers design, optimize and execute business processes in real time and allowing them to identify and maximize profit opportunities throughout their value chains.

McQuillin joined the company in June 1997 as head of worldwide sales and marketing and was promoted to co-chief operating officer in November 2000. The company said in a statement that McQuillin led the transformation of the sales organization from one focused on selling individual technical products to a global sales organization selling enterprise-wide software solutions.

Prior to joining AspenTech, McQuillin served as a vice president at Honeywell, as well as in positions at other technology firms.