Sunday August 19 , 2018
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Progress President and CEO Richard Reidy to Step Down

Progress Software Corporation announced yesterday that President and Chief Executive Officer, Richard D. Reidy, will leave the company when a successor is named.  An external search will be initiated immediately. At the request of the company’s board of directors, Mr. Reidy will continue as President and CEO of the company until a successor has been confirmed.

Mr. Reidy has held numerous leadership positions at the enterprise software company during his 27-year tenure. He was appointed President and CEO in March 2009 and  provided the vision and leadership for Progress Software’s repositioning and its current business strategy. During this time, Mr. Reidy restructured the company, unifying its product and solution portfolio  into the company’s current “One Progress” structure, creating a more focused go-to-market discipline.

Michael Mark, Chairman of the Progress Board of Directors, said: “We deeply appreciate Rick’s excellent leadership through what have been transformative years and we’re thankful for the strong contributions Rick has made to Progress Software since its early days.  We are also grateful he has chosen to lead the company in the coming months as we search for a permanent CEO.”

Mr. Reidy commented: "Progress Software has undergone a profound and successful transformation over the past few years.  We have repositioned and refocused the company in exciting new high growth areas and are executing well.  New leadership will help accelerate our strategy going forward.  Progress has a rich 30 year history of providing compelling products, solutions and service, all of which continue to drive success for our customers and partners.   I would like to thank every Progress employee, customer and partner for the contributions they continue to make to the company's success."

Mr. Reidy will continue to serve on the company’s board of directors until his departure date.  The terms of Mr. Reidy’s departure were mutually agreed upon by Mr. Reidy and the Progress board of directors.

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