Cadence: CEO Fister, Other Execs Resign; Stock Tumbles

October 15, 2008 at 9:17 am PT

Cadence Design Systems (CDNS) this morning announced the resignation of CEO Michael Fister “by mutual agreement” with the company’s board. Also headed for the exits: Kevin Bushby, EVP for worldwide field operations; James Miller, EVP for products and technologies organization; William Porter, chief administrative officer; and R.L. Smith McKeithen, EVP for corporate affairs.

Cadence named an interim office of the chief executive to oversee day-to-day operations, including Chairman John Shoven, new Vice Chairman Lip-Bu Tan and CFO Kevin Palatnik. The company has started a search for a new CEO.

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Tagged with: Barrons, Cadence Design Systems, Eric Savitz, frontpage, James Miller, John Shoven, Kevin Palatnik, Lip-Bu Tan, Michael Fister, R.L. Smith McKeithen, Tech Trader Daily, William Porter

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