Cadence Design Systems appointed Lip-Bu Tan president and CEO on January 8, 2009, with the appointment taking effect immediately. He led the company until December 2021, when Anirudh Devgan succeeded him as CEO.
What happened on January 8, 2009?
Cadence announced that its board had unanimously appointed Tan to the top roles of president and chief executive officer. Before the permanent appointment, he had served as interim vice chairman and as a member of Cadence’s Interim Office of the Chief Executive. The board dissolved that interim office when Tan became CEO.
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Cadence chairman Dr. John Shoven said Tan had helped refine company strategy, optimize the research-and-development structure, implement audit-committee recommendations after an accounting investigation, oversee completion of a financial restatement, and carry out a significant restructuring plan. These were the challenges surrounding the appointment; Cadence’s announcement did not attach revenue or stock-return figures to the 2009 decision.
In the announcement, Shoven said, “On behalf of our Board of Directors, I am pleased to announce Lip-Bu as Cadence’s president and CEO.” Tan said he was honored to lead the company and looked forward to working with the board and employees to serve customers and build shareholder value.
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How long was Tan Cadence CEO?
Tan served as Cadence CEO from 2009 through December 2021. Cadence’s current leadership page lists Anirudh Devgan as president and CEO since December 2021. Tan then became Cadence’s executive chairman; Intel’s Form 8-K identifies May 2023 as the end of that role.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why did Intel choose the former Cadence CEO?
Intel named Tan its CEO effective March 18, 2025. In announcing the appointment, Intel pointed to his Cadence leadership, describing his 2009–2021 tenure as a reinvention of the company and a customer-centric cultural transformation. Intel also said Cadence revenue more than doubled during the period and its stock price appreciated by more than 3,200%. Those are figures Intel reported in 2025, not measures stated in Cadence’s 2009 appointment announcement or independently presented here as a causal estimate.
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