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Customer Focus A Priority For Cadence Design's New CEO.(A)(Q AND A)
Byline: JAMES DETAR
In May, Cadence Design Systems named Michael Fister president and chief executive, and handed the former Intel executive a challenge.
He isn't moving into a cushy job. Cadence, once the leading maker of software used to design chips and other integrated circuits, has had a rough couple of years. Last year, for the first time, it lost the top sales spot to rival Synopsys.
Things have been looking up for Cadence lately, though. It posted second-quarter revenue of $287 million, up 4% from the year-ago quarter. That's its second best year-over-year increase in the last 10 quarters. Earnings rose 67% to 15 cents a share, meeting analysts' estimates.
Fister recently spoke with IBD about his plans to put Cadence back on top in design software.
IBD: How have your first few months gone?
Fister: I'm probably still in transition. I wanted to take the first two months and confirm intuitions I had about the company. I'm a technologist and I've been doing my traditional Fister immersion and getting to know people.
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