11/18/2004 - Cadence Design Systems, Inc. (NYSE: CDN) (Nasdaq: CDN) 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.
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 centres, 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.
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