Not really, this is a perfect situation for a new ceo to come on board. He/she will spend a quarter understanding the mess, then set expectations at a level that's achievable. Nope, good time for the new exec team. The challenge is going to be that 100% of the engineers/other staff are under water on their options, so they will have to figure out a scheme to re-price. CDNS is going to loose 20% of it's team due to the current mess that Fister and co created, they have to figure out how to re-build moral and how to re-gain credibility with the street. This is a great mid term play - with the right 'leader' CDNS could once again be a place where people are proud to work and are happy to put the hours in.
I wouldn't call the situation "perfect". Just because you get rid of 4-5 people at the top doesn't mean that the entire culture of the company is going to change with a new captain at the helm. If Cadence truly wants to be in this business then the new CEO will work with the BOD and scrape-off 2 layers of upper management starting at the top and working their way down. Then you get rid of middle managers that have been promoted to "Directors". They're not directors .. it's a justification for higher salaries. Bring the company back to center ... invest in technology with the technical people you have. This is why I think Cadence is going down; the company has "too much" of a sales and marketing mentality that won't change with a new exec team. Work fast so you don't lose your technical worker bees. One quarter for most companies in trouble would be enough, not for this one. It's been a "Good 'Ol Boy" system for far too long, with all of it's upper management always looking up or side-to-side, but never down at the ranks that make up the foundation of the company. So, crumble it will. Nope ... if Cadence wants to stay in this business, they'll have to make some rules about privelage in the company and stick to them. You don't have anyone reporting to you, out of the window office you go ... no elite forces here. Start from scratch.