Joe was the guy who made Cadence grow 10 fold during his tenure. When he left, CDNS was at all time high of $40 after many splits. It went down=hill from there and never looked back. Many ex-Cadence employees seem to have high regard for him. He is like a Steve Jobs to Apple.
CDNS is not the same company as it was in Joe's time. He was at the helm during explosive growth period for the whole industry and he was smart enough to ensure that CDNS capitalised on many of their first mover advantages at that time.
It a different/larger company today and there's not the same opportunties for growth...they're been sidelined by company's with bettter technologies. The CDNS board should be looking for a CEO to 'sweat' the current assets to hopefully return some sharehilder value. They should be looking to do the same sort of thng as the HPQ board did when they kicked out Carly Fiorina and replaced her with Hurd..he did a fanstatic job for shareholder- however not sure if CDNS board are that smart..after all they did hire Fister.
It is not easy to hire the right person. They made a mistake to hire Fister. That's hindsight. But they did fire him. It was a hard lesson. Just hope they learn from it and get lucky in the search for a guy like Hurd at HPQ.