Anirudh Devgan
Also at Cadence Design Systems Inc
About
An experienced leader with a strong technical background, he has navigated a dynamic career in the technology and semiconductor industries. His early professional journey featured influential roles at companies such as IBM and Magma Design Automation, where he honed his skills in management and innovation.
He joined Cadence Design Systems in May 2012, embarking on a trajectory that saw him advance through several leadership roles. During his tenure, he contributed significantly to the company’s research and development efforts and later guided the organization as President and Chief Executive Officer.
Throughout his career, he has been recognized for his technical expertise and strategic leadership, receiving awards such as the IEEE/SEMI Phil Kaufman Award and being inducted into the National Academy of Engineering. His academic achievements and industry contributions underscore a career dedicated to technological innovation and excellence.
$CDNS Performance Under Anirudh Devgan
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Cadence Design Systems (CDNS) | Executive Vice President, Research and Development | March 2017 - November 2017 | Former R&D leadership role at CDNS |
| Cadence Design Systems (CDNS) | Senior Vice President, Research and Development | November 2013 - March 2017 | Former R&D role prior to current CEO position |
| Cadence Design Systems (CDNS) | Executive Vice President and General Manager, Digital & Signoff and System & Verification groups | N/A | Former role at CDNS |
| Magma Design Automation, Inc. | General Manager and Corporate Vice President – Custom Design Business Unit | May 2005 - March 2012 | Electronic Design Automation (EDA) industry |
| IBM | Management and technical positions | N/A | Received IBM Outstanding Innovation Award |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $750,000 | Annual | Fixed base salary for 2023 |
| 401(k) Matching Contributions | $9,900 | Annual | Part of All Other Compensation |
| Term Life Insurance Premiums | $1,872 | Annual | Part of All Other Compensation |
| Total Fixed Compensation | $761,772 | Annual | Sum of Base Salary and All Other Compensation |
Performance Compensation
Non-Equity Incentive Plan Compensation (SEBP)
| Metric | 1st Half 2023 | 2nd Half 2023 |
|---|---|---|
| Revenue Target | $1,990 million | $2,072 million |
| Actual Revenue | $1,998 million | $2,092 million |
| Non-GAAP Operating Margin Target | 41.5% | 41.5% |
| Actual Non-GAAP Operating Margin | 41.9% | 42.2% |
| Company Performance Factor | 102.41% | 104.59% |
Bonus Calculation
| Detail | Value |
|---|---|
| Base Salary | $750,000 |
| Target Bonus Percentage | 125% |
| Target Bonus Amount | $937,500 |
| Actual Bonus Earned | $1,187,386 |
| 1st Half Bonus | $577,496 at 123.2% |
| 2nd Half Bonus | $609,890 at 130.1% |
Performance Components & Weights
| Component | Weight | Additional Details |
|---|---|---|
| Revenue Component | 45% | Evaluated against revenue targets; actual performance slightly above target in both halves |
| Non-GAAP Operating Margin | 55% | Evaluated against margin targets; actual performance exceeded targets |
| Cadence Culture Modifier | 20% | Part of Individual Performance; includes diversity, equity, inclusion, sustainability & talent dev |
| Executive Leadership Component | 80% | Part of Individual Performance; includes strategic objectives, leadership and fiscal management |
Evaluation Period: 2023 (divided into 1st and 2nd half assessments).
Note: The overall performance compensation is calculated based on both company and individual performance factors. The incentive awards are determined by performance against pre-established metrics and result in bonus payments, as detailed above.