Appointment of Caroline Phares and Chip Colbert to bolster Altair's industry expertise

TROY, Mich., Feb. 22, 2024 -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, announced that Chip Colbert and Caroline Phares have joined Altair in leadership roles for two priority industry segments. Phares has been named vice president for healthcare and life sciences (HLS) and Colbert has been named senior director for Federal and Department of Defense (DoD), part of Altair's aerospace and defense vertical. Both individuals bring decades of valuable experience that will further propel Altair's industry efforts.

"Chip and Caroline's proven experience will further bolster our focus on high-growth industry segments, helping us expand Altair's market share in segments where we have best-in-class technology, a strong track record of success, and a unique blend of talent," said James R. Scapa, co-founder and chief executive officer, Altair. "Adding these two leaders is another demonstration of our commitment to investing in high-potential industries."

With more than 20 years of experience, Caroline Phares will elevate Altair's presence and enhance its focus in the HLS sector. Prior to joining Altair, she served as the global head of health and life sciences at Domino Data Lab. Prior to joining Domino, she served as the product director of quantitative decision-making at GSK, where she was responsible for leading a transformational biostatistics program which modernized technology, processes, and skills to accelerate analysis and reporting for clinical trials submissions and leveraged data assets for faster decision-making and continuous improvement. Phares is a graduate of Villanova University and holds a bachelor of science degree in comprehensive science, physics, and mathematics.

As a seasoned national security, military, and business leader with decades of experience, Chip Colbert will expand Altair's Federal and Department of Defense customer portfolio. Previously, he served as the vice president for the Department of Defense and the Intelligence Community for Virtualitics, Inc. and as the senior director of U.S. sales for Rebellion Defense. In both roles, Colbert was responsible for defining go-to-market strategy and establishing teams to deliver commercial growth. Prior to his private sector roles, Colbert worked in the White House, serving as the National Security Council's director for defense policy and strategy for the Middle East. Over a 20-year career as an Army infantry officer and strategist, he was deployed worldwide in support of military operations. He is a graduate of the United States Military Academy and holds a master's degree in organizational psychology and leadership development from Columbia University's Teachers College.

For more information on Altair's focus on aerospace and healthcare and life sciences, visit https://altair.com/aerospace and https://altair.com/healthcare.

About Altair

Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. For more information, visit https://www.altair.com/.

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