SAN JOSE, Calif., Sept. 13, 2017 /PRNewswire/ -- Cadence
Design Systems, Inc. (NASDAQ: CDNS) today announced that
John Wall, corporate vice president
of finance and corporate controller of Cadence, has been appointed
senior vice president and chief financial officer of Cadence,
effective October 1, 2017.
Geoff Ribar, current CFO of Cadence,
will remain with the company as a senior advisor until his
previously announced retirement at the end of March 2018.
Mr. Wall, a 20-year Cadence executive, has been corporate
controller for the past year-and-a-half, during which he has worked
closely with Mr. Ribar to set and execute the company's financial
goals. He previously served as vice president of finance, where he
was responsible for worldwide revenue accounting and sales finance,
and was instrumental in development of the ratable revenue model
and sales models that Cadence uses. At the beginning of his tenure
with Cadence, Mr. Wall established the Cadence office in
Dublin, Ireland, was European
controller and implemented the company's international tax
structure.
"The Board of Directors and I are excited to appoint
John Wall as the next CFO of
Cadence," said Lip-Bu Tan, president and chief executive officer of
Cadence. "We are confident that John's deep financial experience
and knowledge about our business will serve us well as we build
upon the important progress we have made with our System Design
Enablement strategy, further expand Cadence's position with
customers and improve our financial position."
Mr. Tan continued, "On behalf of the Board and the entire
Cadence team, I want to express our deepest gratitude to
Geoff Ribar for his significant
contributions to Cadence's excellent financial management over the
last seven years as CFO. Geoff played a key role in building the
financial foundation through which we steadily increased our
operating margin and improved our performance. We look forward to
continuing to benefit from his exceptional skill and leadership
during the transition and wish him all the best for the
future."
Cadence has also appointed Michelle
Quejado as corporate controller, reporting to Mr. Wall. Ms.
Quejado was most recently interim CFO at Zynga Inc., where she also
served as corporate controller and chief accounting officer. Prior
to Zynga, she served in multiple financial executive positions at
Lam Research Corporation, including assistant corporate
controller.
About Cadence
Cadence enables electronic systems and
semiconductor companies to create the innovative end products that
are transforming the way people live, work and play. Cadence
software, hardware and semiconductor IP are used by customers to
deliver products to market faster. The company's System Design
Enablement strategy helps customers develop differentiated
products—from chips to boards to systems—in mobile, consumer, cloud
datacenter, automotive, aerospace, IoT, industrial and other market
segments. Cadence is listed as one of Fortune Magazine's 100 Best
Companies to Work For. Learn more at cadence.com.
© 2017 Cadence Design Systems, Inc. All rights reserved
worldwide. Cadence, the Cadence logo and the other Cadence marks
found at www.cadence.com/go/trademarks are trademarks
or registered trademarks of Cadence Design Systems, Inc.
For more information, please contact:
Cadence Newsroom
408-944-7039
newsroom@cadence.com
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SOURCE Cadence Design Systems, Inc.