BENTLEY SYSTEMS INC appointed Mr. Bentley as new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


Chief Executive Officer Transition


On March 15, 2024, Gregory S. Bentley informed the Board of Directors (the "Board") of Bentley Systems, Incorporated (the "Company", "we", "us" and words of similar import) that, effective July 1, 2024, he will transition from the Company's Chief Executive Officer to become Executive Chair of the Board.


Upon the effectiveness of Mr. Bentley's transition, the Board will appoint Nicholas H. Cumins, the Company's Chief Operating Officer, as Chief Executive Officer. Additionally, at such time, it is expected that Mr. Cumins will be proposed to become a member of the Board.


Mr. Cumins, age 47, has served as the Company's Chief Operating Officer since January 2022 and is currently responsible for business operations globally. He joined the Company as Chief Product Officer in September 2020 prior to the Company's initial public offering. Previously, he was General Manager of SAP Marketing Cloud, a comprehensive marketing automation platform, from 2018 to 2020 and served as Chief Product Officer of Scytl, a platform for online voting, from 2016 to 2018, and as Senior Vice President of Product with OpenX, a pioneer in programmatic advertising, from 2013 to 2016. Before OpenX, he had already served in a variety of senior roles at SAP, including product management, corporate strategy, and business development. Cumins is a dual French and U.S. citizen and is based in France. He holds Maîtrise de Droit (Law) and Maîtrise de Sciences de Gestion (Business) degrees from University Paris II Panthéon-Assas, Paris.


The terms of Mr. Cumins' compensation as Chief Executive Officer have yet to be determined. The Company will file an amendment to this Form 8-K when such compensation has been determined.


There are no other arrangements or understandings between Mr. Cumins and any other persons pursuant to which Mr. Cumins will be appointed as the Company's Chief Executive Officer or member of the Board. Mr. Cumins does not have any family relationship with any of the Company's directors or executive officers or any persons nominated or chosen by the Company to be a director or executive officer. Mr. Cumins does not have any direct or indirect interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.


Appointment of Chief Accounting Officer


On March 15, 2024, Thomas F. Trimback was appointed the Company's Chief Accounting Officer, taking over the role from Werner Andre, who will remain the Company's Chief Financial Officer.


Thomas F. Trimback, age 41, has served as our Vice President, Global Controller since January 30, 2023, and is responsible for the Company's global accounting, financial reporting, treasury, and internal controls functions. Prior to joining us, Mr. Trimback was the Assistant Corporate Controller at Endo International, a global specialty pharmaceutical company, from 2022 to 2023, and held various leadership roles in the Controllership and Financial Reporting departments at Comcast Corporation, a multinational telecommunications and media conglomerate, from 2017 to 2021. Prior to that, Mr. Trimback held several roles with PricewaterhouseCoopers from 2004 to 2017, including two years in the firm's National Office, SEC Services organization. Mr. Trimback earned a Bachelor of Science degree in Accounting from Saint Joseph's University. Mr. Trimback is a Certified Public Accountant in the state of Pennsylvania and is a member of the Corporate Finance Steering Committee of the Pennsylvania Institute of Certified Public Accountants.


There are no other arrangements or understandings between Mr. Trimback and any other persons pursuant to which Mr. Trimback will be appointed as the Company's Chief Accounting Officer. Mr. Trimback does not have any family relationship with any of the Company's directors or executive officers or any persons nominated or chosen by the Company to be a director or executive officer. Mr. Trimback does not have any direct or indirect interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.