Cadence Appoints John Wall To Succeed Geoff Ribar As CEO, Effective Oct. 1

(RTTNews) - Cadence Design Systems, Inc. (CDNS) announced Wednesday that John Wall, corporate vice president of finance and corporate controller, has been appointed senior vice president and chief financial officer, effective October 1.

Wall succeeds Geoff Ribar, the current CFO of Cadence, who will remain with the company as a senior advisor until his previously announced retirement at the end of March 2018.

Cadence has also appointed Michelle Quejado as corporate controller, reporting to Wall. Quejado was most recently interim CFO at Zynga Inc., where she also served as corporate controller and chief accounting officer.

Wall, a 20-year Cadence executive, has been corporate controller for the past year-and-a-half. He previously served as vice president of finance. At the beginning of his tenure with Cadence, Wall established the Cadence office in Dublin, Ireland, was European controller and implemented the company's international tax structure.

Lip-Bu Tan, president and chief executive officer of Cadence, said, "We are confident that John's deep financial experience and knowledge about our business will serve us well as we build upon the important progress we have made with our System Design Enablement strategy, further expand Cadence's position with customers and improve our financial position."