Sopheon PLC Seasoned Cloud & Industry Executive added to Team (7032B)

TIDMSPE

RNS Number : 7032B

Sopheon PLC

12 October 2020

SOPHEON PLC

("Sopheon" or the "Company")

Sopheon adds Seasoned Cloud and Industry Executive to Team

Recognized business leader joins Sopheon as President

Sopheon, the international provider of software and services for Enterprise Innovation Management solutions, today announces that it has hired Greg Coticchia to take responsibility for day to day operations and to accelerate the Company's SaaS transition. Based in the US, he will report to Sopheon's CEO, Andy Michuda, who will intensify his focus on strategic partnerships and acquisition opportunities, while maintaining overall responsibility for the business.

Greg Coticchia is a recognized entrepreneur, business leader, professor and author, with over thirty years' experience in software products and services. A frequent finalist for the Ernst and Young Entrepreneur of the Year award, he has held executive roles in a number of organizations ranging from startups 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, three years ago Greg was asked to establish the Master's Program in Product Management at Carnegie Mellon University. Since then he has served as the executive director of the program, while continuing to provide business coaching and consulting to a variety of corporate organizations. Since June, this has included consulting with Sopheon to assist with its cloud transition strategies and plans.

Andy Michuda said: "Working with Greg in recent months, I have been struck by how well his unique qualities and experiences as a business leader fit with Sopheon and with where we are in our journey. He knows what it takes for software companies to transition successfully to the cloud, and how to navigate the technology challenges while in parallel driving growth and business momentum. He has great credentials and a deep network in our core innovation and product development markets, and through working with us, he has demonstrated excellent cultural alignment while developing a passionate ambition for realizing Sopheon's potential. I feel fortunate that Greg has agreed to join us as President, and to have him at my side as we pursue the exciting opportunities that lie ahead. Greg brings strong leadership experience and a rich ecosystem extremely complementary to our go-forward business strategy and ambition."

Greg Coticchia said: "Sopheon represents a rare and unusual fit for my experience and my expertise. It is going through a transition that I have helped other companies undertake, while sitting at a market inflexion point in terms of the broad appeal of its offering to organizations worldwide that are crying out for effective strategy and innovation solutions."

For further information contact:

 
 Barry Mence (Chairman)                               + 44 (0) 1276 919 
  Arif Karimjee (CFO)                  Sopheon plc     560 
 Carl Holmes/Giles Rolls (Corporate 
  Finance)                                            + 44 (0) 20 7220 
  Alice Lane (ECM)                     finnCap Ltd     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 250 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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