Executive Chair Lip-Bu Tan not seeking re-election to Cadence board; stays through March 2024

CADENCE DESIGN SYSTEMS INC

Lip-Bu Tan notified the Board on Feb 8, 2023 he will not stand for re-election at the 2023 Annual Meeting.
He will continue as a non-officer employee until March 31, 2024 under the Tan Transition Agreement.
The Tan Transition Agreement was previously filed on Dec 17, 2021 as Exhibit 10.2 to Form 8-K/A.

item 5.02

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Departed

Lip-Bu Tan

Executive Chair

CDNS · CADENCE DESIGN SYSTEMS INC

Filed: February 13, 2023, 6:59 PM ET

On February 8, 2023, Lip-Bu Tan, the Executive Chair of the Board of Directors (the “Board”) of Cadence Design Systems, Inc. (the “Company”), notified the Board that he will not seek re-election to the Board at the Company’s 2023 Annual Meeting of Stockholders, when his current term as Executive Chair expires.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Lip-Bu Tan departed as Executive Chair at CADENCE DESIGN SYSTEMS INC.

Action: not seek re-election
Role: Executive Chair

Exact text from the filing

On February 8, 2023, Lip-Bu Tan, the Executive Chair of the Board of Directors (the “Board”) of Cadence Design Systems, Inc. (the “Company”), notified the Board that he will not seek re-election to the Board at the Company’s 2023 Annual Meeting of Stockholders, when his current term as Executive Chair expires.

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CADENCE DESIGN SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000813672-23-000013

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