Parametric reelects directors, hires Pricewater House Coopers

Parametric Technology Corp. said shareholders last week reelected directors Paul A. Lacy, Michael E. Porter and Robert P. Schechter to the company’s board, while also endorsing a slate of compensation- and auditing-related measures.

The maker of product-development software (Nasdaq: PMTC) said the trio of directors is scheduled to serve until the company’s 2013 annual meeting.

Paul A. Lacy, who was 62 as of Jan. 20, previously held various senior-level executive positions at Kronos Inc., a Chelmsford, Mass.-based developer of employee time-management technologies for businesses. A Parametric director since last year, Lacy received 100.8 million votes in favor of his reappointment. Another 1.7 million votes were withheld while 7.5 million were classified as “broker non-votes.”

Porter, a renowned Harvard University professor who specializes in business strategy and organizational issues, has been a Parametric director since 1995. He received 65.3 million votes in favor of his reappointment, while 37.2 million were withheld. Another 7.5 million were classified as broker non-votes. Porter was 61 as of Jan. 20.

Schechter, also 61 as of Parametric’s (Nasdaq: PMTC) proxy filing date, was appointed to the company’s board last year. He is the retired CEO of NMS Communications Corp., a developer of communications software and appliances. Schechter received 100.8 million votes in favor of his reappointment, while 1.7 million votes were withheld and 7.5 million were classified as broker non-votes.

Among the other issues approved at the company’s March 3 shareholders meeting were two compensation-related measures as well as the hiring of PricewaterhouseCoopers LLP as Parametric’s registered public accounting firm for fiscal 2010. Parametric is based in Needham, Mass.

Source: Finance Yahoo

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