RealTime IT News

Tilion Taps Temp

Tilion, a Maynard, Mass., provider of logistics and supply chain management software, has named Peter R. Shields as acting CEO as a search for a permanent leader commences.

Shields replaces Christopher Stone, who recently returned to Novell in the newly created position of vice chairman, office of the CEO.

"The market opportunity for the supply chain event management sector is significant; there is an impressive executive team in place, and the company has developed a very strong technology platform," Shields said. "Overall, Chris and the rest of the team have laid a remarkably solid foundation."

Previously, Shields was president and CEO of product life cycle software firm Formation Systems. There, he struck partnerships with Coca-Cola, GE Plastics and Procter & Gamble, and oversaw 100 percent year-over-year revenue growth. He also raised four rounds of venture financing, totaling more than $35 million.

Earlier, he was senior vice president of worldwide sales for Aspen Technology, a $300 million supplier of process design and supply chain systems. Before joining Aspen Technology, Shields worked at IBM.

Bill Geary, a partner at North Bridge Venture Partners and an original investor in Tilion, said "Peter has an ideal background to lead Tilion -- he knows the space, he has a superb track record growing sales, and he understands how to take early-stage companies to the next level."

Tilion was founded in January 2000. It is privately held and venture-backed.