updated 5/10/2010 11:12:31 AM ET 2010-05-10T15:12:31

The Product Development Company has appointed James Heppelmann as its new CEO.

The company said Heppelmann, who currently serves as the company's president and chief operating officer, will assume the position in October. He succeeds C. Richard Harrison, who is becoming the company's executive chairman.

Heppelmann, 45, joined the software company in 1998 as a senior vice president when PTC acquired Windchill Technology, a company he founded.

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