Progress Software names Bhatt president and CEO

Autodesk's Jay Bhatt joining Progress Software as president and CEO on Dec. 5

AP – Mon 28 Nov, 2011 8:47 PM IST

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BEDFORD, Mass. (AP) — Business software maker Progress Software Corp. said Monday that Jay Bhatt will join the company as president and CEO on Dec. 5.

Bhatt will also be elected to the company's board of directors. He was previously in charge of Autodesk Inc.'s architecture, engineering, and construction solutions business.

Progress Software announced in August that Richard Reidy planned to leave the company after Progress found a replacement. Reidy was president and CEO since March 2009.

Shares of Progress Software rose 80 cents, or 4.3 percent, to $19.25 in morning trading amid a broad market rally.

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