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.

SHENZHEN, CHINA – Valor Computerized Systems has announced today that Korean electronics manufacturer Hankuk Valence has been chosen as the distributor for the company’s products in Korea.

With the addition of Valor’s assembly solutions to its portfolio, Hankuk Valence will be promoting Valor’s complete product line, including Valor’s vPlan process engineering software, and vManage, used for manufacturing monitoring and control.

“The long-standing partnership between Valor and Hankuk Valence has proven beneficial for both companies, as well as for the Korean electronics manufacturing market,” said KH Ong, president of Valor Far East.

“Products like Valor’s vPlan and Valor’s DFM tools can provide a significant competitive advantage to our customers by dramatically reducing their production preparation time and their CAD to manufacturing process,” said HD Kim, president of Hankuk Valence.