1/6/2004 - Cadence Design Systems, Inc. (NYSE:CDN) announced it has appointed Ping Chao to head up the company’s Design and Verification division. This division is responsible for the Cadence IncisiveTM functional verification platform and the integration of new generation synthesis products into the Cadence EncounterTM digital IC design platform.
“Since the formation of the Design and Verification division this year, we have made great strides in establishing our presence in the marketplace,” said Ray Bingham, president and chief executive officer of Cadence. “With Ping’s extensive background as a technology and business leader in the EDA industry, I am confident that his vision and leadership will help continue the strong momentum of our design and verification business into 2004 and beyond.”
“With the launch of the Cadence Incisive platform and our successful acquisition of leading synthesis technology, the company has never been in a stronger position,” said Ping Chao, executive vice president and general manager of the Design and Verification division, Cadence. “With a strong team and technology roadmap in place, the new year continues to hold great promise and I am looking forward to the opportunities to grow our leadership in this critical space.”
Ping Chao joined Cadence in 2001 when Cadence acquired Silicon Perspective Corp., a company he founded and served as president and CEO. Chao is also a co-founder of Cadence, and has an extensive career in the EDA industry and electronic design. Chao founded and held executive management positions in three successful EDA start-up companies, taking them through initial public offerings (IPOs) or acquisitions and growing them to market leadership positions.
Penny Herscher, former executive vice president and general manager of the Design and Verification division, has decided to step back from an operating role at Cadence in order to pursue a position as a chief executive officer.
Cadence is the largest supplier of electronic design technologies, methodology services, and design services. Cadence solutions are used to accelerate and manage the design of semiconductors, computer systems, networking and telecommunications equipment, consumer electronics, and a variety of other electronics based products. With approximately 4,800 employees and 2002 revenues of approximately $1.3 billion, Cadence has sales offices, design centers, and research facilities around the world. The company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN. More information about the company, its products and services is available at www.cadence.com.
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