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Progress Software names Philip M. Pead as president and CEO

Executive Chairman and interim CEO, Philip Pead, has been named President and CEO, effective immediately. As a result, Pead will step down as Executive Chairman and will be replaced by Jack Egan, who has been elected Non-Executive Chairman of the Board of Directors. Egan, a Progress board member since September 2011, is managing partner of Egan-Managed Capital.