Fremont, California – 5 June, 2019 – Pivotal Systems Corporation (“Pivotal” or the “Company”) (ASX: PVS) today announced the appointment of Timothy D. Welch as Chief Financial Officer, commencing on 5 June 2019. Mr. Welch will be replacing Mr. Omesh Sharma who has resigned his position to pursue new commercial opportunities. Mr. Sharma will be working with Mr. Welch for an indefinite period to ensure an orderly transition.
Mr. Welch is a highly experienced CFO for high-technology companies with operations experience and a proven track record of building infrastructures, scaling revenues, and executing successful mergers & acquisitions. Mr. Welch was the former CFO and VP, Operations of ReVera, Inc. a semiconductor capital equipment company located in Santa Clara, CA. ReVera was acquired by Nova Measuring Instruments (NASDAQ:NVMI) in April, 2015. Prior to his experience at ReVera, Mr. Welch was the CFO of Boxer Cross which was acquired by Applied Materials (NASDAQ:AMAT). Also noteworthy, Mr. Welch was the CFO of Asyst Technology which went public on the NASDAQ. Mr. Welch has a MBA from the University of California, Berkeley and a B.A. in Chemistry from California State University, Chico.
Mr. John Hoffman, Chairman and CEO of Pivotal Systems commented “On behalf of the Board, management and employees of Pivotal, I would like to thank Omesh for his dedicated service over the many years as the CFO, having made a valuable contribution to the success of the business and more recently, the completion of an initial public offering on the ASX in 2018. Omesh has done an excellent job bringing the company to the next phase of its development.”
Mr. Hoffman continued “I am delighted that Tim has joined Pivotal as our new CFO. His extensive corporate experience as a CFO, Mergers & Acquisitions, capital structuring, along with strong financial and risk management capabilities will be invaluable as Pivotal continues to grow its global business and drive both customer and shareholder value.”
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