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Cadence Leadership Released Into Wild

Published on October 16, 2008
by John Paczkowski

They’re clearing the decks at Cadence. CEO Mike Fister resigned Wednesday, along with four other senior executives, in the wake of mounting financial problems at the semiconductor company. Cadence (CDNS) offered little comment on the departures, which are effective immediately. Just that hollow “We wish them all continued success in the years ahead” typical of executive restructuring announcements. But it’s clear that the company’s leadership is paying the price for its deteriorating financial performance and the embarrassing failure of its bid to acquire rival Mentor Graphics (MENT). Said analyst Gary Smith, “Cadence is in trouble. I think they have really run out of time for a ‘save-Cadence-as-it-is project.’ Now it’s a rebuilding project.”

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