8-KEarnings & ResultsLeadership ChangesExhibits & Filings

SYNOPSYS INC 8-K Report, Financial Results (May 18, 2005)

Filed May 18, 2005For Securities:SNPS

Summary

Synopsys Inc. (SNPS) filed an 8-K on May 18, 2005, primarily to report its financial results for the fiscal quarter ended April 30, 2005, and to announce a key executive change. The company reported its financial performance via a press release, which is attached as an exhibit. While specific financial figures are not detailed within the 8-K itself, the filing indicates that detailed results were made available on May 18, 2005. Significantly, the filing also disclosed the resignation of Steven K. Shevick as Senior Vice President and Chief Financial Officer, effective on or around May 13, 2005. This departure was stated to be without any known disagreements. Following Mr. Shevick's resignation, the Board of Directors appointed Rex S. Jackson, who was serving as Vice President and General Counsel, to the role of Acting Chief Financial Officer. The filing provides background on Mr. Jackson's extensive legal and business development experience.

Key Highlights

  • 1Synopsys Inc. announced its financial results for the fiscal quarter ended April 30, 2005, via a press release filed with this 8-K.
  • 2The press release detailing the fiscal quarter's financial performance is attached as Exhibit 99.1.
  • 3Steven K. Shevick resigned from his position as Senior Vice President and Chief Financial Officer.
  • 4Mr. Shevick's resignation was effective on or around May 13, 2005, and was not due to any known disagreements with the company.
  • 5Rex S. Jackson, currently Vice President and General Counsel, has been appointed Acting Chief Financial Officer.
  • 6Mr. Jackson's appointment as Acting CFO is effective as of the date of Mr. Shevick's resignation.
  • 7The filing includes a press release (Exhibit 99.2) specifically announcing Mr. Shevick's departure.

Frequently Asked Questions

The 8-K filing states that Synopsys announced its financial results for the fiscal quarter ended April 30, 2005, on May 18, 2005. A press release containing these results is attached as Exhibit 99.1, but the specific financial figures are not detailed within the body of the 8-K filing itself. Investors should refer to Exhibit 99.1 for detailed financial performance.

According to the filing, Steven K. Shevick resigned from his position as Senior Vice President and Chief Financial Officer. The company stated that his resignation was not due to any disagreement with the company regarding its operations, policies, or practices.

Following Steven K. Shevick's resignation, the Board of Directors appointed Rex S. Jackson as the Acting Chief Financial Officer. Mr. Jackson previously served as the company's Vice President and General Counsel and brings significant legal and business development experience to the role.

Yes, Rex S. Jackson has a substantial background. Before joining Synopsys, he held executive positions at venture capital firm Redleaf Group, Inc., and served as President and CEO of a Redleaf portfolio company. He also has extensive experience as Vice President and General Counsel at AdForce, Inc. and Read-Rite Corporation.