Cadence Design Systems Augments Executive Team and Announces New Assignments; Emphasis on Innovation and Customer Satisfaction
SAN JOSE, Calif.—(BUSINESS WIRE)—Nov. 16, 2004—
Cadence Design Systems, Inc. (NYSE:CDN) (Nasdaq:CDN)
today announced the addition of three executives to its management
team: Jim Miller, Ajay Malhotra and Craig Johnson. In addition, the
company announced a new focus for Ping Chao.
"This is a very exciting time for Cadence," said Mike Fister,
president and CEO. "These changes will enable Cadence to place even
more emphasis on deepening its enterprise-wide relationships with
customers, and ensuring that it continues to build a strong pipeline
of advanced products and services."
The Implementation and Design & Verification divisions will be
consolidated into a single organization to drive product development
excellence and improve consistency across all products. The new
unified product development organization will be led by Miller, senior
vice president of Development, a 20-year industry veteran who has held
engineering and management positions at Intel Corp., Broadcom Corp.,
and Silicon Spice. Malhotra, senior vice president of Product
Marketing, will focus on all elements of technology and product
marketing to drive the transformation from a point product to
integrated kit focus, and ensure that customer requirements are at the
forefront of all Cadence product offerings. Malhotra was formerly
co-general manager of Enterprise Marketing and Planning in Intel's
Enterprise Platforms Group. Johnson, vice president of Business
Development, will lead strategy and business development. Johnson was
most recently director of Strategic Marketing in Intel's Enterprise
Platforms Group. The three new executives will report directly to
Fister.
Said Fister, "This augmented management team enables Cadence to
reinforce its leadership position in EDA and the global semiconductor
industry."
Chao, executive vice president and former general manager of the
Design & Verification Division, will now assume the role of senior
advisor to the executive chairman and executive team. Chao will focus
on opportunities around emerging technologies.
Cadence also announced today that Lavi Lev, member of the
executive team and general manager of the Implementation Division,
will leave the company at the end of this year to pursue other
interests. "We thank Lavi for his leadership and his contributions to
the strong technology portfolio that Cadence enjoys today and we wish
him well in this next phase of his career," said Fister. Lev will
continue to work closely with the executive team to ensure a seamless
transition.
About Cadence
Cadence is the world's largest supplier of electronic design
technologies and engineering services. Cadence products and services
are used to accelerate and manage the design of semiconductors,
computer systems, networking equipment, telecommunications equipment,
consumer electronics, and other electronics based products. With
approximately 4,850 employees and 2003 revenues of approximately $1.1
billion, Cadence has sales offices, design centers, and research
facilities around the world. The company is headquartered in San Jose,
Calif., and trades on both the New York Stock Exchange and Nasdaq
under the symbol CDN. More information is available at
www.cadence.com.
Cadence and the Cadence logo are registered trademarks of Cadence
Design Systems, Inc. in the U.S. and other countries. All other
trademarks are the property of their respective owners.
Contact:
Cadence Design Systems, Inc.
Adolph Hunter, 408-914-6016
publicrelations@cadence.com
