Subject: CDNS confirms Bruggeman "leaving to pursue other opportunities"

> Five independent sources have reported the rumor that immediately after
> yesterday's CDNS Q2 2011 earnings call, that:
> 
>   "John Bruggeman has left Cadence over a disagreement about organizing
>    product marketing back underneath the individual CDNS R&D heads and
>    put what remains of the rest of marketing underneath Pankaj Mayor, a
>    former Simplex business development guy."
> 
> So far, multiple attempts to get official confirmation or denial of this
> rumor from 4 different people at Cadence have remained unanswered.
> 
>     - from http://www.deepchip.com/wiretap/110729.html


From: [ Greed Is Good ]

Hi, John,

Cadence filed a change in management with the SEC today (29-Jul-2011):

  Change in Directors or Principal Officers

  Item 5.02. Departure of Directors or Certain Officers; Election of
  Directors; Appointment of Certain Officers; Compensatory Arrangements
  of Certain Officers.

  John J. Bruggeman II, Senior Vice President and Chief Marketing Officer
  of Cadence Design Systems, Inc. ("Cadence") will be leaving the company to
  pursue other opportunities.  On July 28, 2011, Cadence entered into an
  agreement with Mr. Bruggeman (the "Transition Agreement") providing for
  his resignation as Senior Vice President and Chief Marketing Officer.

  Under the Transition Agreement and subject to certain terms and conditions
  set forth therein, Cadence and Mr. Bruggeman have agreed, among other
  items, that Mr. Bruggeman will remain with Cadence as a non-executive
  employee through August 14, 2011 to assist with transitional matters
  relating to his function.  During this period, Mr. Bruggeman will continue
  to be eligible to receive his base salary and participate in Cadence's
  compensation and benefit programs.

  Under the Transition Agreement, effective August 14, 2011, Mr. Bruggeman's
  full-time employment will terminate and Mr. Bruggeman will become a part-
  time employee, at which time Mr. Bruggeman will also become entitled to
  receive the same benefits as he is entitled to as a result of termination
  of his employment without cause as set forth in the Executive Transition
  and Release Agreement included as an exhibit to his Employment Agreement
  with Cadence, effective August 3, 2010.

That makes Bruggeman's tenure 5 days short of 24 months as Cadence's CMO.

Please keep me anonymous on this.

    - [ Greed Is Good ]

         ----    ----    ----    ----    ----    ----   ----

From: Joany Draeger <joany=user domain=cadence got calm>

Hi John,

I've seen your posts and understand you have been trying to reach someone at
Cadence.  I wanted to get you the official statement from the company.  I'm
not sure if you saw that we filed an 8-k earlier today which announced
John Bruggeman's departure.  We have also announced an internal reorg to our
employees.

As you know, Cadence has transformed itself to align with the EDA360 vision
we published in April 2010.  The results have been evident in our product
innovation, financial performance and industry partnerships.  Organizing R&D
into 3 groups nearly a year ago has helped us guide our efforts in each of
the 3 areas of EDA360 - Silicon, SoC, and System Realization.  As part of
this continuing transformation, we announced yesterday to our employees that
product marketing will move to the corresponding R&D organizations, enabling
tighter alignment between the two groups.

We believe this change will intensify and accelerate our strategy towards
fulfilling the vision of EDA360.

We also announced that John Bruggeman is leaving the company to pursue
other opportunities.  His work and accomplishments have had a positive
impact on our company's marketing efforts and he was instrumental in raising
the profile of the company in the industry.  We thank him for his
contributions.

Pankaj Mayor, who is currently Chief of Staff to the CEO, has stepped in as
the acting head of marketing for Cadence.  We are excited about the future
as we enter a new phase of growth and opportunity.  By realizing the EDA360
vision, Cadence can help customers bring differentiated products to market
profitably, predictably and productively.

    - Joany Draeger
      Cadence Design Systems, Inc.               San Jose, CA