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Michael Schmertzler

Chairman

Mr. Schmertzler has served as a member of PTC’s board of directors since August 2001 and as the Chairman of the board of directors since November 2004. He joined PTC’s board after leading the Series A investment in the company as Co-Head of Credit Suisse First Boston Equity Partners. In addition, Mr. Schmertzler is currently a director of Berryville Holdings, LLC. (a cybercommunications security software development company); Dispel, LLC (a secure remote access provider protecting critical infrastructure); and SHY Therapeutics, LLC (a discovery stage small molecule therapeutics company). Since 1987, he has taught at Yale University in the Department of Economics, School of Management, and Yale NUS Singapore. In 2020, Mr. Schmertzler completed serving as the court appointed independent director of the largest subsidiary in liquidation of Lehman Brothers.

Mr. Schmertzler has been actively involved as a senior manager of institutional private equity capital since 1986, serving first as President of the Morgan Stanley Leveraged Capital Funds and then Co-Head of Credit Suisse First Boston Equity Partners. Mr. Schmertzler was also a Managing Director in the Mergers and Acquisitions Department of Morgan Stanley; founded the firm’s biotechnology industry practice; and headed its global insurance industry practice. He was head of international investment banking and capital markets of Shearson Lehman Brothers and, prior to its acquisition in 1984 by American Express, was the Chief Financial Officer and Chief Operating Officer of Lehman Brothers. Mr. Schmertzler has served as a director or senior private investor at Cain Chemical, Colt Industries, Cytokinetics, Idenix, Segway and other industrial and early stage biotechnology and technology companies. From 2008-2012, Mr. Schmertzler was the founding CEO of a Yale sponsored biotechnology spin off developing monoclonal antibody therapeutics.

Mr. Schmertzler is currently a Charter Trustee of Phillips Academy, Andover and a trustee of the The Addison Gallery of American Art. He has previously served as a trustee of the Manhattan Theater Club; the New York Academy of Sciences; the Credit Suisse First Boston Foundation; and the National Outdoor Leadership School, of which he is an Emeritus Chair.

Mr. Schmertzler received a B.A. from Yale College in Molecular Biophysics and Biochemistry, History and City Planning; attended Princeton’s School of Public and International Affairs; and earned an M.B.A. from the Harvard Business School.

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