Just 1 more reason in a long list as to why this board should be fired and banned from ever sitting on any other BOD in this country. These people are totally worthless and 1 has to sur- mise they flat out don't give a damn about CDNS!
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.
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......