Exa Corporation Announces CFO Transition
BURLINGTON, Mass., Nov. 7, 2013 (GLOBE NEWSWIRE) -- Exa^® Corporation,
(Nasdaq:EXA) today announced that Edmond Furlong will resign as the company's
Chief Operating Officer and Chief Financial Officer. Consistent with his
career experience and aspirations and also his wide range of responsibilities
at Exa prior to its initial public offering, Mr. Furlong intends to pursue
broader operating roles outside of Exa. Mr. Furlong will remain in his current
role with the Company through March 31, 2014 to ensure a smooth transition.
The Company will be initiating a formal search process to fill the position on
a permanent basis.
"We are grateful for the many contributions Ed has made to Exa over his nearly
10 years with the company," said Stephen Remondi, President and Chief
Executive Officer of Exa. "Ed has been instrumental in building a world-class
finance organization, helping to support and drive our growth over the last
decade, and it was under his leadership that we conducted our successful
initial public offering in June of 2012. I am pleased that Ed has agreed to
remain with the Company for the next few months to ensure a smooth transition,
and we wish him all the best in his future endeavors."
"It has been a privilege to be part of Exa's growth over many years," said
Edmond Furlong, Chief Operating Officer and Chief Financial Officer of Exa. "I
am proud of my achievements and have great confidence in Exa's future success.
I have tremendous respect for the Company's leadership team and am committed
to working with our finance team over the coming months to ensure a smooth
About Exa Corporation
Exa Corporation develops, sells and supports simulation software and services
to enhance product performance, reduce product development costs and improve
the efficiency of design and engineering processes. Exa's simulation solutions
enable their customers to gain crucial insight into design performance early
in the design cycle, thus reducing the likelihood of expensive redesigns and
late-stage engineering changes. As a result, Exa's customers realize
significant cost savings and fundamental improvements in their engineering
development process. Our products include, PowerFLOW^®, PowerDELTA^®,
PowerCLAY^®, PowerVIZ^®, PowerSPECTRUM^®, PowerACOUSTICS^®, PowerINSIGHT^®,
PowerCASE™, PowerCOOL^® and PowerTHERM^® along with professional engineering
consulting services. A partial customer list includes: AGCO, BMW, Ford,
Hyundai, Kenworth, MAN, Nissan, Peterbilt, Renault, Scania, Toyota,
Volkswagen, and Volvo Trucks.
CONTACT: Media Contact:
Michelle Murray-Ross, Exa Corporation
+1 (781) 564-0251
Investor Relations Contact:
Garo Toomajanian, ICR
+1 (781) 564-0337
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