Online information source for semiconductor professionals

Cadence announces several resignations including CEO

15 October 2008 | By Syanne Olson | Going Places

Popular articles

Oberai discusses Magma’s move into solar PV yield management space - 29 August 2008

New Product: Applied Materials new EUV reticle etch system provides nanometer-level accuracy - 19 September 2011

‚??Velocity‚?? the new buzzword in Intel‚??s PQS annual awards - 12 April 2012

Applied Materials adds Jim Rogers to Board of Directors - 29 April 2008

TSMC honors suppliers at annual Supply Chain Management Forum - 03 December 2008

Cadence Design Systems, Inc., announced today several resignations of executive members of the company including its Chief Executive Officer, Michael Fister. No reason was stated as to why they resigned, but the company stated that it was a mutual agreement between Fister and the Board.

In correlation to Fister’s departure, Cadence has created an Interim Office of the Chief Executive to become effective immediately. This interim office includes Dr. John B. Shoven as the Interim Executive Chairman, Lip-Bu Tan as the Interim Vice Chairman of the Board, and Kevin S. Palatnik as Senior Vice President and Chief Financial Officer. Charlie Huang has been appointed Chief of Staff. Dr. Shoven and Lip-Bu Tan have also been asked by the Board to co-chair the search committee for qualified candidates to lead the company permanently.

“Our Board of Directors believes that the formation of the Interim Office of the Chief Executive is the best structure to lead Cadence during this time of transition,” said Dr. John Shoven, Chairman of the Board.

Fister is not the only executive to depart from Cadence at this time. The company also announced that Kevin Bushby, Executive Vice President of Worldwide Field Operations, Thomas Cooley, Corporate Vice President in Field Marketing, James S. Miller Jr., Executive Vice President of Products and Technologies Organization, William Porter, Executive Vice President and Chief Administrative Officer, and R.L. Smith McKeithen, Executive Vice President, have all resigned as well. Cadence does not plan to fill the positions filled by Miller, Porter, or McKeithen. 

 

Related articles

Cadence taps engineering and design expertise in European Universities to form network - 18 October 2007

Fujitsu announces corporate reshuffle - 21 March 2012

SMIC selects Cadence DFM solution for 65/45nm production - 19 October 2009

Si2 announces election of board of directors - 16 July 2009

Electro Scientific Industries, Zygo call off merger plans - 03 April 2009

Reader comments

No comments yet!

Post your comment

Name:
Email:
Please enter the word you see in the image below: