As usual the board shows a complete lack of imagination. Cooley to run operations is a joke. His biggest claim to fame was getting a $1m bonus check and a Porsche for selling a deal to TI that eventually went pear-shaped. He's most recently been running marketing while Mike Ellow did the day to day stuff for Bushby. Expect Cooley to surround himself by sycophants, deliver non-descript sound bytes and generally set the bar low. He'll be the first to go if the board hires a CEO with a pulse. My bet is they'll stick with Huang as CEO as part of the bargain to continue lining their pockets. It's not in the boards interest to hire an outsider. After all he/she will uncover all sorts of skeletons in the cupboard.
Why is the earning call taking so long we ask? After all, there was a single deal being questioned from earlier in the year. That's a one day job to figure out what should have been booked and when. Word is that the external auditors are on a bit of a mission to cover the butts of the audit committee and assign blame away from the jokesters on the board.
Good points but Cadence is at the position now where the uncompetitive prodcts must be shut down to save money. There can no longer be sacred cows. The analog, emulation and verification must be kept but the digital layout, DRC, synthesis all must go. Each of these groups have not captured enough market share to have strong pricing power. These groups also have many high paid VPs that could be let go.