MSC today announced the departure of Chairman and CEO Bill Weyand and Glenn Weinkoop, President and COO, and their replacement by Ashfaq A. Munshi as interim Chief Executive Officer and President. The company’s Board of Directors has retained a national firm to conduct a search for a permanent CEO.
According to the press release, Mr. Munshi has served as a Director of MSC since September 2006, and has held positions at Applied Materials, Silicon Graphics and Oracle. Also according to the release, he “has worked with MSC products since the early 1980’s as a customer and in the 1990’s in tuning the software for SGI hardware. Additionally, he has worked with many of MSC’s customers in the aerospace and automotive industries.” Investors seem lukewarm on the change, sending the shares up slightly at 11AM Eastern. It’s unclear how these changes will affect MSC. Mr. Munshi will need to create and execute on some sort of interim vision, since it’s unknowable when a new CEO will be selected. We should learn more at the company’s user conference next month.