Altair Appoints Nationally-Recognized Financial Executive Howard Morof As CFO

TROY, Mich., Feb. 19, 2013 /PRNewswire/ --  Altair today announced the appointment of veteran financial executive Howard Morof as the company's chief financial officer. Morof has served on the Altair board of directors for the past two years and has extensive experience with high-growth companies as well as expertise in capital markets, mergers, acquisitions, and joint ventures.

As chief financial officer Morof will be responsible for Altair's global corporate financial strategy. Morof will further build on Altair's consistent record of annual growth throughout its 27-year history. During 2012, Altair's success has been reflected in rapidly growing new client and expansion sales in the automotive, aerospace and other industries. Today, Altair operates from offices in 19 countries serving more than 3,000 customers worldwide.

"Howard is a very experienced financial executive with significant knowledge and a sophisticated understanding of our business," said Altair Chairman and CEO James Scapa. "His talent for successfully leading corporate expansion and financial growth places him in a key role for Altair's future development."

Morof joins Altair after five years as chief financial officer of North American Bancard, one of America's largest independent merchant/credit card processing companies. Previously, he held chief financial officer roles at FMF Capital, a wholesale mortgage banking company, and Broder Bros. Co., a leading distributor of imprintable activewear, after serving as a partner at Morof Sheplow Weinstein CPAs.

"Having served on Altair's board, I have a high level of respect for Altair's business success and see this as an exciting opportunity to take an active role in Altair's continued growth strategy," said Morof. "I look forward to working with our executive team and partners to continue to build upon Altair's momentum."

Morof is a certified public accountant, having earned his master's degree in taxation at Walsh College and his Bachelor of Business Administration at the University of Michigan. He and his family reside in Farmington Hills, Mich.

About Altair

Altair empowers client innovation and decision-making through technology that optimizes the analysis, management and visualization of business and engineering information. Privately held, with over 1,800 employees, Altair has offices throughout North America, South America, Europe and Asia/Pacific. With a 27-year track record for high-end software for engineering and computing, enterprise analytics solutions, and innovative product design and development, Altair consistently delivers a competitive advantage to customers in a broad range of industries. To learn more, please visit www.altair.com or www.simulatetoinnovate.com.

SOURCE Altair

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