01—Abstract
Summary
Summary of the 8-K filed March 5, 2021. Cited figures are marked; the original filing is the authoritative source.
Cadence Design Systems, Inc. (CDNS) has filed an 8-K report to announce the departure of a key board member.
Susan L. Bostrom has informed the Board of Directors that she will not seek re-election at the upcoming 2021 Annual Meeting of Stockholders, scheduled for May 6, 2021. Ms. Bostrom's tenure on the board will conclude at that time, marking the end of her service after a significant period, including a prior term.
She has been instrumental in various board committees, notably serving as Chair of the Strategy Committee and as a member of the Compensation Committee and the Corporate Governance and Nominating Committee. The company has formally expressed its gratitude for her dedicated service and valuable contributions.
02—Key points
Key Highlights
- Susan L. Bostrom will not seek re-election to the Board of Directors at the 2021 Annual Meeting.
- Ms. Bostrom's term as a director will end on May 6, 2021, the date of the Annual Meeting.
- Ms. Bostrom has served on the Cadence Board since 2011, with a prior term from 2001 to 2005.
- She currently holds key leadership positions as Chair of the Strategy Committee.
- Ms. Bostrom also serves on the Compensation Committee and the Corporate Governance and Nominating Committee.
- The Board of Directors acknowledged and appreciated Ms. Bostrom's contributions and service.
- This change impacts board composition and committee leadership.
03—Questions
Frequently Asked Questions
Why is Susan L. Bostrom leaving the Cadence Board of Directors?
Susan L. Bostrom has informed the Board of Directors that she does not wish to seek re-election at the 2021 Annual Meeting of Stockholders. Her departure is a personal decision not to stand for re-election.
When will Susan L. Bostrom's service on the Board officially end?
Ms. Bostrom's term as a director will conclude at the 2021 Annual Meeting of Stockholders, which is anticipated to be held on May 6, 2021.
What roles did Ms. Bostrom hold on the Board?
Ms. Bostrom has served on the Board since 2011 and previously from 2001 to 2005. Currently, she is the Chair of the Strategy Committee and also a member of the Compensation Committee and the Corporate Governance and Nominating Committee.
Does this departure indicate any issues with Cadence's performance or governance?
The filing states Ms. Bostrom has chosen not to seek re-election and the Board expressed appreciation for her service. There is no indication in this filing of any performance or governance issues; it appears to be a standard directorial transition.
04—Continue