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July 2021

Cadence Design Systems, Inc. Announces Executive Changes

Cadence Design Systems, Inc. (Nasdaq: CDNS) announced that its Chief Executive Officer Lip-Bu Tan will transition to the role of executive chairman on December 15, 2021. Lip-Bu became CEO in January 2009 and reinvented the company, driving a fundamental cultural transformation that was rooted in leapfrog innovation and a relentless focus on delighting customers.

President Anirudh Devgan will assume the role of president and CEO on December 15, 2021. Anirudh will be joining the Cadence Board of Directors effective August 2, 2021. Anirudh has served as president of Cadence since 2017 and oversees all the research and development, sales and field engineering as well as corporate strategy, marketing and business development groups, including mergers and acquisitions.

Cadence is a pivotal leader in electronic design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design™ strategy to deliver software, hardware and IP that turn design concepts into reality.