February 1, 2018 / 2:24 PM / 6 months ago

PTC's Hayman picked as CEO for Aveva as it merges with Schneider

(Reuters) - Britain’s Aveva Group, which has agreed to a tie-up with France’s Schneider Electric, on Thursday appointed Craig Hayman as chief executive officer effective from Feb. 19.

Hayman, who will lead the combined group, is joining from U.S. computer software firm PTC Inc, taking over from James Kidd, who had been appointed in January 2017 and moves to be deputy CEO and chief financial officer of Aveva.

Schneider Electric will take a 60 percent stake in an enlarged industrial software business with Aveva, worth about 3 billion pounds ($4.27 billion). The companies had said they were looking for new CEO to run the enlarged group.

PTC confirmed Hayman’s departure, but did not comment on its own succession plan.

Before taking up his post at PTC, Hayman was president of eBay’s enterprise business. He has also served in senior leadership positions at IBM.

Hayman would be based in Britain, Aveva said.

($1 = 0.7030 pounds)

Reporting by Noor Zainab Hussain and Esha Vaish in Bengaluru; Editing by Jason Neely and Edmund Blair

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