VC Lip-Bu Tan Named Cadence CEO
Lip-Bu Tan, founder and chairman of venture capital firm Walden International, has been named CEO of semiconductor company Cadence Design Systems (Nasdaq: CDNS), effective immediately. Tan had been a long-serving member of the Cadence board of directors, and had been serving as interim vice chairman. Cadence said in a statement that Tan would continue to serve as Walden Interenational's chairman, but I'm not exactly sure what that means on a practical level. Public company CEO is a fulltime job, which either means that: (A) Tan will cut way back on his Walden International responsibilities, or (B) Tan already had cut way back on his Walden International responsibilities. Please note that I keep writing both Walden and International, so as to distinguish the firm from the unaffiliated WaldenVC.
