---
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"
generated_at: "2026-06-30T02:47:26.107959+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Cadence Design Systems CEO succession: Anirudh Devgan to take over as CEO on Dec 15, 2021

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: leadership
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-224307
- JSON: https://secwatch.observer/filing/0001193125-21-224307.json
- Plain text: https://secwatch.observer/filing/0001193125-21-224307.txt

## Key facts
- Executive change
  Lip-Bu Tan departed as Chief Executive Officer at CADENCE DESIGN SYSTEMS INC.
  - Action: step down
  - Role: Chief Executive Officer
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm
- Executive change
  Anirudh Devgan was appointed as President and Chief Executive Officer at CADENCE DESIGN SYSTEMS INC.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: appointed Anirudh Devgan, Ph.D., currently the Company’s President, as President and Chief Executive Officer of the Company effective December 15, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm
- Executive change
  Lip-Bu Tan changed role as Executive Chair at CADENCE DESIGN SYSTEMS INC.
  - Action: will assume
  - Role: Executive Chair
  source text: will assume the position of Executive Chair of the Company as of the Transition Effective Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm
- Executive change
  Anirudh Devgan was appointed as director at CADENCE DESIGN SYSTEMS INC.
  - Action: appointed
  - Role: director
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm
- Executive change
  John Shoven was appointed as lead independent director at CADENCE DESIGN SYSTEMS INC.
  - Action: appointed
  - Role: lead independent director
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/813672/000119312521224307/0001193125-21-224307-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.