Sign in

    Anirudh Devgan

    President and CEO at Cadence Design Systems Inc
    Board
    Since December 2021
    Age
    55 years
    Education
    Holds a B.Tech. in Electrical Engineering from the Indian Institute of Technology, Delhi and an M.S. and Ph.D. in Electrical and Computer Engineering from Carnegie Mellon University.
    Tenure
    Joined Cadence in May 2012; held roles as Senior Vice President for Research and Development, then Executive Vice President, and was promoted to President in November 2017 and to CEO in December 2021.

    Also at Cadence Design Systems Inc

    CT
    Chin-Chi Teng
    Senior Vice President and GM, Digital and Signoff Group
    JMW
    John M. Wall
    Senior Vice President and CFO
    KN
    Karna Nisewaner
    Senior Vice President, General Counsel, and Corporate Secretary

    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

    OrganizationRoleDate RangeDetails
    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/AFormer 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/AReceived IBM Outstanding Innovation Award

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$750,000 AnnualFixed base salary for 2023
    401(k) Matching Contributions$9,900 AnnualPart of All Other Compensation
    Term Life Insurance Premiums$1,872 AnnualPart of All Other Compensation
    Total Fixed Compensation$761,772 AnnualSum of Base Salary and All Other Compensation

    Performance Compensation

    Data from  FY 2023

    Non-Equity Incentive Plan Compensation (SEBP)

    Metric1st Half 20232nd Half 2023
    Revenue Target$1,990 million $2,072 million
    Actual Revenue$1,998 million $2,092 million
    Non-GAAP Operating Margin Target41.5% 41.5%
    Actual Non-GAAP Operating Margin41.9% 42.2%
    Company Performance Factor102.41% 104.59%

    Bonus Calculation

    DetailValue
    Base Salary$750,000
    Target Bonus Percentage125%
    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

    ComponentWeightAdditional Details
    Revenue Component45%Evaluated against revenue targets; actual performance slightly above target in both halves
    Non-GAAP Operating Margin55%Evaluated against margin targets; actual performance exceeded targets
    Cadence Culture Modifier20%Part of Individual Performance; includes diversity, equity, inclusion, sustainability & talent dev
    Executive Leadership Component80%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.