Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced that current Cadence board member, Mary Louise (ML) Krakauer, has assumed the role of chair of the board, effective May 4, 2023. Ms. Krakauer, who previously held various executive roles at global technology companies, also serves as a director of Mercury Systems, Inc. and Proterra Inc.

Ms. Krakauer’s appointment was confirmed by the Cadence board following the annual shareholder’s meeting last week. Ms. Krakauer succeeds Lip-Bu Tan, who had served as Cadence’s executive chair.

“ML first joined our board in January 2022, and we’re honored that she’s been appointed chair as we embark on the next phase of our growth,” said Dr. Anirudh Devgan, president and CEO, Cadence. “We deeply appreciate Lip-Bu’s exceptional service to the company and look forward to leveraging ML’s rich experience and expertise to further expand upon our Intelligent System Design strategy and augment shareholder value.”

“Cadence’s growth has been phenomenal over the past several years, and I’m ready to explore new market opportunities and drive strategic initiatives to further advance the company’s position in the computational software industry,” said ML Krakauer, chair of the board, Cadence. “I share Anirudh’s passion for innovation and customer success, and I look forward to collaborating with Anirudh and the executive team to build upon Cadence’s strong foundation and take the company to new heights.”

Ms. Krakauer retired as executive vice president, chief information officer of Dell Corporation, a global information technology company, in January 2017. Prior to that, she served in various executive positions at EMC Corporation, a global IT infrastructure company, which she joined in 2008, including executive vice president, chief information officer in 2016; executive vice president, business development, Global Enterprise Services during 2015; and executive vice president, Global Human Resources from 2012 to 2015. Ms. Krakauer also held executive general management roles at Hewlett-Packard Enterprise, Compaq Computer Corporation, and Digital Equipment Corporation.

About Cadence

Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For nine years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com.

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Cadence announced that current board member, Mary Louise (ML) Krakauer, has assumed the role of chair of the board, effective May 4, 2023.