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Cadence Names New CFO

Published: 28 September 2010
 by Staff

SAN JOSE -- Cadence Design Systems today named Geoff Ribar senior vice president and chief financial officer, replacing Kevin Palatnik.

Ribar, who was CFO of Telegent Systems, will start on Nov. 1. Meanwhile, Palatnik is leaving the company to pursue other interests, Cadence said in a statement. Palatnik has been with the EDA software company for nine years.

"Ribar is an experienced executive who brings a wealth of financial, IT and operational expertise at public and private high tech companies, including SiRF, Matrix Semiconductor, nVidia and Advanced Micro Devices," Lip-Bu Tan, president and CEO.

Cadence also reiterated its third-quarter revenue guidance of $225 million to $235 million. For the year , the PCB and IC design software company expects total revenue in the range of $900 million to $925 million.

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