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Cadence names Palatnik as CFO, Porter as CAO
Written by Philip Buonpastore
Wednesday, 23 April 2008
SAN JOSE, CA - Cadence Design Systems has announced that Kevin S. Palatnik has been appointed CFO, succeeding William Porter in the role. Palatnik will continue to report to Porter, who has been named as CAO. These changes are effective immediately.
Palatnik is a 12-year veteran of Cadence, and has served as controller for the past two years for the company's financial, audit and compliance functions. Palatnik has held a number of senior financial and operational positions at Cadence, including corporate VP of finance and VP of technical field operations. Prior to joining Cadence, Palatnik worked for IBM, and has a bachelor of science degree in Industrial Engineering and Operations Research, as well as an M.B.A. from Syracuse University.
"Kevin Palatnik's impressive finance background and unique operational experience provide him with an exceptional skill set for the CFO role," stated Mike Fister, president and CEO of Cadence.
Porter joined Cadence in 1994 and became CFO in 1999. Cadence states that as CFO, Porter was instrumental in improving company operational performance, including increasing revenue, operating margin and cash flow.
"I am excited that Bill will have broader responsibility, leveraging the talents of the teams that now report to him, as he focuses more of his time on Cadence's growth strategy," said Fister.
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