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Posted 13 September, 2021

SYNOPSYS INC appointed new CEO

CEO Change detected for ticker Nasdaq:SNPS in a 8-K filed on 13 September, 2021.


  Chi-Foon Chan will transition from his role of President of Synopsys as of November 1, 2021, and will continue as co-Chief Executive Officer until April 30, 2022.  

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Overview of SYNOPSYS INC
Technology • Software
Synopsys, Inc. engages in the provision of electronic design automation (EDA) software that engineers use to design and test integrated circuits (ICs). It also offers semiconductor intellectual property (IP) products. It operates through the following segments: EDA, Design IP, Software Integrity, and Other. The EDA segment includes silicon design, verification products and services, system integration products and services, digital, custom, and FPGA IC design software, verification software and hardware products, and manufacturing software products. The Software Integrity segment includes a solution for building security and compliance testing into the customers' software development lifecycle and supply chain. The company was founded by Aart J. de Geus, Bill Krieger, Dave Gregory, and Rick Rudell in December 1986 and is headquartered in Sunnyvale, CA.
Market Cap
$94.4B
View Company Details
SYNOPSYS INC by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On September 13, 2021, the Board of Directors of Synopsys, Inc. ("Synopsys") appointed Sassine Ghazi, currently Chief Operating Officer of Synopsys, as President and Chief Operating Officer of Synopsys, effective as of November 1, 2021. 

Mr. Ghazi, age 51, joined Synopsys in March 1998 as an Application Engineer, and prior to his appointment as Chief Operating Officer, served as General Manager of the Design Group. Prior to joining Synopsys, Mr. Ghazi was a design engineer at Intel. Mr. Ghazi received his bachelor's degree in Business Administration from Lebanese American University; a B.S.E.E from the Georgia Institute of Technology in 1993; and an M.S.E.E. from the University of Tennessee in 1995. 

There are no arrangements or understandings between Mr. Ghazi and any other persons pursuant to which Mr. Ghazi was named an officer of Synopsys. Mr. Ghazi does not have any family relationship with any of Synopsys' directors or executive officers or any persons nominated or chosen by Synopsys to be a director or executive officer. Mr. Ghazi has no direct or indirect material interest in any transaction or proposed transaction required to be reported under Section 404(a) of Regulation S-K or Item 5.02(d) of Form 8-K. 

In connection with his prior appointment as Chief Operating Officer, Synopsys previously entered into its standard form of indemnification agreement with Mr. Ghazi, which requires Synopsys to indemnify him against certain liabilities that may arise as result of his status or service as an officer. The description of Mr. Ghazi's indemnification agreement is qualified in its entirety by the full text of the form of indemnification agreement, which is attached to Synopsys' Form 8-K filed on July 14, 2011 as Exhibit 99.2. 

Chi-Foon Chan will transition from his role of President of Synopsys as of November 1, 2021, and will continue as co-Chief Executive Officer until April 30, 2022.