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Cadence Design Systems Inc. Message Board

  • pcmlk pcmlk Dec 8, 2008 12:21 PM Flag

    Bring Costello back !!!

    http://seekingalpha.com/article/109711-eda-bring-costello-back?source=yahoo

    If the board did not even approach Joe Costello, it should be fired.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I have it from a good source that the board has not contacted Joe.

    • Cadence needs a CEO with a fresh mind and strong leadership just like young Costello (but unnecessary himself now). In this poor economy, the company should focus on cost cutting - eliminates those superficial management while retains high caliber technical contributors. The EDA industry has been quite matured, similar to US auto industry. To survive, the company has to go back to the very basics - cost and quality. Find a CEO who knows the EDA industry and can execute.

    • This is an interesting article, but I'm afraid
      the author is guilty of some melancholy. Joe
      was a very insightful leader in the heydays of
      EDA. However there was a great deal of politics
      @ Cadence in the Costello regime also. Further-
      more, don't forget who was responsible for bringing Bingham into Cadence, you guessed it,
      Joe. Joe was also responsible for the previous sales exec's as well. So, the point is that Joe brought in some less than stellar performers also. I've said many times in this forum this
      BOD should be summarily fired. If they had any
      conscience among them, they'd resign, but don't
      hold your breath waiting for that to happen.
      Joe, when he's focused (i.e. not involved in a
      witch hunt like Gerry Hsu) is a great leader,
      but the question is, after being out of EDA for
      years, is he interested or qualified to lead
      Cadence now? Joe could bring this company back
      but major surgery would have to be effected on
      this board of directors. Joe must also agree to
      eliminate the politics inside this company and
      create the right environment to achieve a
      "phoenix" type resurrection for Cadence. One
      of the facets required to achieve this "right
      environment" is to eliminate a lot of the dead
      wood at the director and V.P. levels. Joe
      should agree to this right sizing since he help-
      ed create this hierarchy when he was there the first time.
      In summary Joe could certainly bring Cadence
      back but he has to agree that it requires an
      overhaul in all areas including the board of
      directors. If he agrees to this, under these conditions, the stock would jump $5 the day this
      is announced.

      • 2 Replies to bigdogs_2041
      • Joe brought Bingham into Cadence as the CFO. So, I think that was fine.

        Maybe you were an insider at Cadence. I was not. But there is no denying that Joe was a great leader. I know people who used to work closely with Joe. They all seem to have a lot of respect for Joe. Joe was a visionary. He was one of the most flamboyant and charismatic CEOs in Silicon Valley. He was like a Steve Jobs to Apple, a Jerry Sanders to AMD etc.

        >but the question is, after being out of EDA for
        >years, is he interested or qualified to lead
        >Cadence now?
        Is he interested ? I don't know. Is he qualified to lead Cadence ? Absolutely! I don't think anyone in the world dare to claim to be more qualified than Joe. Under his strong leadership, Cadence grew from a $40 million company to a billion dollar EDA juggernaut......

        Success speaks louder than words.

 
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