Shekar Ayyar Joins Altair Board of Directors
Altair (Nasdaq: ALTR) announced the appointment of Shekar Ayyar to its board of directors, filling the vacancy left by Richard Hart's resignation.
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Rhea-AI Summary
Altair (Nasdaq: ALTR) announced the appointment of Shekar Ayyar to its board of directors, filling the vacancy left by Richard Hart's resignation. Ayyar, with over 25 years of experience in consulting and technology, previously held leadership roles at VMware and other tech firms. His expertise in scaling technology businesses is expected to contribute positively to Altair's growth strategy. Ayyar expressed enthusiasm for joining the board, citing Altair's innovative capabilities in simulation, HPC, and AI as key drivers for future success.
Positive
- Shekar Ayyar's extensive experience may enhance strategic decision-making.
- Ayyar's proven track record in scaling technology businesses could drive growth.
- Appointment aligns with Altair's focus on leveraging simulation, HPC, and AI.
Negative
- Richard Hart's resignation might create temporary leadership instability.
Details
News Market Reaction – ALTR
The recorded move for ALTR in the trading session of this news was +2.87%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
TROY, Mich., July 19, 2021 /PRNewswire/ -- Altair (Nasdaq: ALTR) announced that Shekar Ayyar has joined Altair's board of directors.
"Shekar brings a wealth of consulting, strategy, and technical expertise in electronics, telecommunications, and software markets to our board of directors," said James R. Scapa, founder, chairman, and chief executive officer, Altair. "He has an outstanding track record of efficiently scaling technology businesses including both organic and inorganic growth."
With more than 25 years of industry experience, Ayyar was most recently an executive vice president and general manager for VMware's telco and edge cloud business unit and previously held other leadership positions at VMWare including as the company's executive vice president of strategy and corporate development. He is currently the chief executive officer of AdMY Technologies Inc. and a venture partner with NTTVC.
Prior to joining VMware, Ayyar held senior positions at BindView, Instantis, Lucent Technologies, and McKinsey & Company. Prior to McKinsey, he was an assistant professor of electrical engineering at Lafayette College and conducted research at Bell Laboratories.
"I look forward to joining Altair's board of directors. Altair is poised for exceptional growth propelled by its best-in-class, robust, scalable, and technically differentiated platform that brings together the power of simulation, HPC, and AI," said Ayyar. "Its ability to leverage software and cloud technology combined with its entrepreneurial culture is a great asset."
Ayyar earned a master of business administration degree from The Wharton School of the University of Pennsylvania; a PhD and master of science degree in electrical engineering from Johns Hopkins University; and a bachelor of science degree in electrical engineering from the Indian Institute of Technology, Bombay.
Altair also announced that Richard Hart has resigned from Altair's board and that Ayyar will fill the vacancy resulting from that resignation.
"We want to express our sincere gratitude to Richard for his outstanding advice throughout his tenure on the board. His insights were extremely valuable and his service greatly appreciated," said Scapa. "He will be missed."
About Altair (Nasdaq: ALTR)
Altair is a global technology company that provides software and cloud solutions in the areas of simulation, high-performance computing (HPC), and artificial intelligence (AI). Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future. To learn more, please visit www.altair.com.
Media Contact
Jennifer Ristic
+1.216.849.3109
Jristic@altair.com
Investor Relations
The Blueshirt Group
Monica Gould +1 212.871.3927
Lindsay Savarese - +1 212.331.8417
ir@altair.com
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SOURCE Altair
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