Cadence Design Systems (CDNS) Announces Anirudh Devgan to Become CEO in December 2021; Lip-Bu Tan to Transition to Role of Executive Chairman

Cadence Announces Anirudh Devgan to Become CEO in December 2021; Lip-Bu Tan to Transition to Role of Executive Chairman at That Time

SAN JOSE, Calif.--(BUSINESS WIRE)-- Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced that its Chief Executive Officer Lip-Bu Tan will transition to the role of executive chairman on December 15, 2021, with President Anirudh Devgan assuming the role of president and CEO at that time. Devgan is joining the Cadence Board of Directors effective August 2, 2021. Chairman of the Board John Shoven has been appointed lead independent director, effective December 15, 2021. Tan and Devgan will continue their close partnership, which has delivered strong growth and consistent business results over the past four years.

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