Summary
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.
Key Highlights
- 1Susan L. Bostrom will not seek re-election to the Board of Directors at the 2021 Annual Meeting.
- 2Ms. Bostrom's term as a director will end on May 6, 2021, the date of the Annual Meeting.
- 3Ms. Bostrom has served on the Cadence Board since 2011, with a prior term from 2001 to 2005.
- 4She currently holds key leadership positions as Chair of the Strategy Committee.
- 5Ms. Bostrom also serves on the Compensation Committee and the Corporate Governance and Nominating Committee.
- 6The Board of Directors acknowledged and appreciated Ms. Bostrom's contributions and service.
- 7This change impacts board composition and committee leadership.