John Olsen Announces Retirement From Cadence - Company Operations

Edge: Work-Group Computing Report, Dec 13, 1999

Cadence Design Systems, Inc., the world's leading supplier of electronic design products and services, Monday announced that John Olsen, president of Cadence's Design Realization Group, will retire from the Company effective December 31, 1999. Olsen will continue to support Cadence as a part-time advisor to President and CEO, Ray Bingham.

"We are grateful to John for his years of service and many contributions to Cadence; we wish him well," said Bingham. "John has added great value to Cadence in helping the Company evolve to its current business model. I look forward to his continued involvement," added Bingham.

Olsen, 48, joined Cadence in 1994 as senior vice president of worldwide sales. Earlier this year, he became president of the Design Realization Group, overseeing corporate development, design services, and electronics infusion.

"I am proud of my association with Cadence and its world-class employees and will do whatever I can to help the company as it moves forward," said Olsen.

The design services, corporate development and electronics infusion organizations will now report to Bingham.

Cadence is the largest supplier of software products, methodology services, and design services used to accelerate and manage the design of semiconductors, computer systems, networking and telecommunications equipment, consumer electronics, and a variety of other electronics-based products. With more than 4,000 employees and 1998 annual sales of $1.3 billion, Cadence has sales offices, design centers, and research facilities around the world.

The Company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN. More information about the company, its products and services may be obtained from the World Wide Web at http://www.cadence.com.