{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-21-224307","form_type":"8-K","ticker":"CDNS","cik":"0000813672","company_name":"CADENCE DESIGN SYSTEMS INC","filed_at":"2021-07-26T23:59:59+00:00","discovered_at":"2026-05-14T18:04:20.870329+00:00","generated_at":"2026-06-30T02:47:26.107959+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Cadence Design Systems CEO succession: Anirudh Devgan to take over as CEO on Dec 15, 2021","bullets":["Lip-Bu Tan steps down as CEO on Dec 15, 2021, becomes Executive Chairman; Anirudh Devgan, current President, becomes President and CEO.","Devgan joins the Board of Directors effective August 2, 2021.","John Shoven appointed lead independent director effective December 15, 2021.","Under Tan's leadership since 2009, revenue grew from <$1B to ~$3B and stock appreciated >3,200%.","Devgan drove the Intelligent System Design strategy, expanding TAM to $30B."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-21-224307","json":"https://secwatch.observer/filing/0001193125-21-224307.json","markdown":"https://secwatch.observer/filing/0001193125-21-224307.md","text":"https://secwatch.observer/filing/0001193125-21-224307.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/d297563d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-30T02:47:26.107959+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"197691d25e","claim":"Lip-Bu Tan departed as Chief Executive Officer at CADENCE DESIGN SYSTEMS INC.","evidence_excerpt":"Dr. Devgan will replace Lip-Bu Tan, who will step down as Chief Executive Officer of the Company and will assume the position of Executive Chair of the Company as of the Transition Effective Date.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"step down"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"2b4bc8b218","claim":"Anirudh Devgan was appointed as President and Chief Executive Officer at CADENCE DESIGN SYSTEMS INC.","evidence_excerpt":"appointed Anirudh Devgan, Ph.D., currently the Company’s President, as President and Chief Executive Officer of the Company effective December 15, 2021","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"President and Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"7e922ffa57","claim":"Lip-Bu Tan changed role as Executive Chair at CADENCE DESIGN SYSTEMS INC.","evidence_excerpt":"will assume the position of Executive Chair of the Company as of the Transition Effective Date.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"will assume"},{"label":"Role","value":"Executive Chair"}],"fact_type":"executive_change"},{"claim_id":"a53bb14b66","claim":"Anirudh Devgan was appointed as director at CADENCE DESIGN SYSTEMS INC.","evidence_excerpt":"approved an increase in the size of the Board from nine to ten directors, and appointed Dr. Devgan as a director, each effective as of August 2, 2021","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"ee988ef8d6","claim":"John Shoven was appointed as lead independent director at CADENCE DESIGN SYSTEMS INC.","evidence_excerpt":"appointed John Shoven, Ph.D., the Board’s current Chairman, to serve as the lead independent director of the Board, effective as of the Transition Effective Date.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"lead independent director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}