Altair’s Engineering Expands Board of Directors
Diverse team to guide strategic growth strategy.
TROY, Mich., August 17, 2005 - Altair Engineering, Inc., a global leader in innovative product development, advanced engineering software and grid computing technology, today announced that it has expanded the number of seats on its board of directors and has elected new members to fill those vacancies. The board is now made up of five directors, and includes two Altair executives, President and Chief Executive Officer (CEO) James R. Scapa - who will serve as the board’s chairman - and its Chief Technical Officer (CTO) James E. Brancheau. The board also includes Marc F. McMorris, managing director of General Atlantic LLC - a global private equity firm that recently made a $30 million investment in Altair - and two independents: Martin C. Clague, former president and CEO of Covansys Corporation and a 33-year veteran of IBM; and Louis M. Crain, CEO of Crain Partners, former CEO of Wildgate Wireless and engineering software industry executive.
"We conducted an extensive search for the right candidates, and I am particularly pleased with the level of experience and expertise the new board represents," said Scapa. "Moreover, the independent members have experience in multiple industries, and will provide a balanced perspective in sharing their insight into our business. I am very confident that this diverse group will provide the oversight and guidance we need as Altair moves into our third decade."
James R. Scapa
Jim Scapa brings more than 20 years of engineering experience to his dual role of president and CEO of Altair Engineering, Inc., titles he has held since the company’s inception.
Scapa began his career in 1978 with Ford Motor Company, working on virtual prototyping technology. He left Ford in 1981 to pursue his master’s degree, and took a part-time position at an engineering consulting firm, which he joined full-time after graduation. In 1985, Scapa left the company to form Altair with partners George Christ and Mark Kistner.
Scapa holds a bachelor of science degree in mechanical engineering from Columbia University in New York City and a master of business administration from the University of Michigan. In 2004, he was named an Ernst & Young Entrepreneur of the Year in Technology.
James E. Brancheau
Jim Brancheau is the chief technical officer for Altair Engineering, with primary responsibility for identifying and nurturing new technology and talented people within the organization. With more than 30 years of experience in engineering, software development and technical management, Brancheau thrives on applying new technology in different ways to bring innovative solutions to customer challenges.
Brancheau joined Altair in 1988, after five years with General Motors and 12 years at Ford Motor Company in a number of positions relating to product testing, design and computer-aided engineering (CAE). Since then, he has held positions of increasing responsibility at Altair, specifically in managing the company’s engineering efforts.
Brancheau holds a bachelor of science degree in mechanical engineering from the University of Detroit (Mich.).
Marc F. McMorris
Marc McMorris is a managing director at General Atlantic LLC, a leading global private equity firm providing capital for innovative companies where information technology or intellectual property is a key driver of growth. With the company since 1999, McMorris leads General Atlantic's Enterprise Software sector. He represented General Atlantic in that firm’s recent $30 million investment in Altair Engineering.
Prior to joining General Atlantic, McMorris served as a vice president in the High Technology group with Goldman Sachs. Before that, he served as an associate in mergers and acquisitions within the Telecommunications and Media Group of Morgan Stanley Dean Witter.
McMorris holds a bachelor of arts degree in economics from the University of Pennsylvania and a master of business admin
About Altair Engineering
Through product design consulting, advanced engineering software and high-performance computing (HPC) technologies, Altair Engineering increases innovation for clients around the globe. Founded in 1985 and privately held with offices throughout 12 countries, Altair's unparalleled knowledge and expertise in product development and manufacturing extend throughout North America, Europe and Asia. As the developer of Altair® HyperWorks® - The Engineering Framework for Product DesignTM, Altair is the leading provider of high-end, open CAE software solutions for modeling, visualization, optimization and process automation. The company’s grid computing software, PBS ProfessionalTM, is a workload management solution for HPC environments, Linux clusters and desktop cycle harvesting that delivers an ROI within one year. For detailed information about Altair, visit www.altair.com