PROS Holdings (PRO) said late Tuesday that President and Chief Executive Andres Reiner plans to retire.

Reiner will remain at the company's helm until a successor is appointed and serve as an adviser for a year to assist in the transition, the company said.

PROS Holdings has retained an executive search firm to help find the next chief executive.

Price: 21.00, Change: +1.62, Percent Change: +8.36