BURLINGTON, Mass., Aug. 08, 2016 (GLOBE NEWSWIRE) -- Exa® Corporation (Nasdaq:EXA), a global innovator in simulation software for product engineering, announced the appointment of Suresh Sundaram as Senior Vice President, Products and Marketing effective today. In this role, Dr. Sundaram will report to the Chief Executive Officer, Stephen Remondi, and be responsible for the company's product management and marketing activities.
With over 25 years of product development, product management, sales operations, education and marketing leadership and experience, Dr. Sundaram brings critical skills and perspective to the company's deep deployment mission. He joins Exa from a career that spanned more than two decades at Aspen Technology where he was most recently Senior Vice President of Products and Market Strategy.
"Suresh is a critical addition to the executive team at Exa. I look forward to leveraging his experience and expertise as we continue on our mission to create and deploy our products within our target markets," remarked Mr. Remondi. "Combining Suresh's experience in building go-to-market strategies for deep vertical software solutions with his focus on creating value for the customer positions him to help the company maximize its growth and earnings potential."
"Exa is a global leader in the simulation-driven design space and I am delighted to be joining its management team," said Dr. Sundaram. "Exa's digital vehicle simulation platform helps transportation companies design and engineer vehicles efficiently while at the same time meeting stringent government, environmental and customer requirements. This is an exciting time to be in the market, and I look forward to contributing to the company's growth and market leadership."
Dr. Sundaram earned his Ph.D. and Master of Science degrees from the Massachusetts Institute of Technology (MIT) in Chemical Engineering and a Bachelor degree in Chemical Engineering from the Indian Institute of Technology (IIT), Bombay.
In addition, effective August 8, 2016, the compensation committee of the company's board of directors granted to Dr. Sundaram an option to purchase 75,000 shares of Exa common stock at an exercise price of $14.54 per share, which was the closing price of our common stock on that date. The grant was made as an inducement award pursuant to Rule 5635(c)(4) of the Nasdaq Global Select Market.
About Exa Corporation
Exa (NASDAQ:EXA) (www.exa.com) Corporation's visualization and simulation software helps designers and engineers produce better vehicles and equipment. As a design evolves, Exa accurately predicts the performance of that design while providing actionable insight to optimize the performance of the product. With Exa, the need for costly physical prototypes and expensive late-stage changes is reduced. Now, designers and engineers are freed from the risk of producing compromised products that do not meet market and regulatory requirements. Some of the most successful product companies in the world use Exa, including BMW, Delphi, Denso, Fiat Chrysler, Ford, Hino, Honda, Hyundai, Jaguar Land Rover, Kenworth, Komatsu, MAN, Nissan, Peterbilt, Peugeot, Renault, Scania, Toyota, Volkswagen and Volvo Trucks.
Founded in 1991, the company is headquartered at 55 Network Drive, Burlington, MA, USA 01803. Tel: 1.781.564.0200; Fax: 1.781.564.0299; Email: firstname.lastname@example.org; URL: www.exa.com; NASDAQ:EXA
Media Contact: Michelle Murray-Ross, Exa Corporation +1 (781) 564-0251 email@example.com Investor Relations Contact: Garo Toomajanian, ICR +1 (781) 564-0337 firstname.lastname@example.org