Synopsys Inc 8-K, filed Aug 19, 2020
Synopsys Inc (SNPS)
About this 8-K
Synopsys Inc filed this 8-K on August 19, 2020, reporting on events of August 17, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
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Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(d) Appointment of Principal Operating Officer
On August 17, 2020, Sassine Ghazi was promoted to Chief Operating Officer of Synopsys, Inc. (“Synopsys”) and was appointed by Synopsys’ Board of Directors as its principal operating officer, effective immediately.
Mr. Ghazi, age 50, joined Synopsys in March 1998 as an Application Engineer and most recently 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 accordance with Synopsys’ customary practice, Synopsys is entering 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.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit |
Exhibit Title | |
| 99.1 | Press release dated August 19, 2020 announcing the appointment of Sassine Ghazi as the Chief Operating Officer of Synopsys, Inc. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| SYNOPSYS, INC. | ||||||
| Dated: August 19, 2020 | By: | /s/ JOHN F. RUNKEL, JR. | ||||
| John F. Runkel, Jr. | ||||||
| General Counsel and Corporate Secretary | ||||||
Exhibit 99.1
NEWS RELEASE
Editorial Contact:
Simone Souza
Synopsys, Inc.
650-584-6454
simone@synopsys.com
Investor Contact:
Lisa L. Ewbank
Synopsys, Inc.
650-584-1901
Synopsys-ir@synopsys.com
Synopsys Appoints Sassine Ghazi as Chief Operating Officer
Deep Technical and Business Expertise Ideal for Synopsys’ Next Wave of Innovation, Growth and Profitability
MOUNTAIN VIEW, Calif., August 19, 2020 – Synopsys, Inc. (Nasdaq: SNPS) today announced that Sassine Ghazi has been appointed as Chief Operating Officer. Ghazi, who joined Synopsys in 1998, brings multiple decades of experience in chip design, applications engineering, customer support, sales, and business management. Most recently, he was general manager of Synopsys’ Design Group, where he accelerated development of market-changing new products and put into place a compelling strategy and roadmap grounded in deep technical knowledge and close customer collaboration. Prior to Synopsys, he worked as a design engineer at Intel. He holds bachelor’s degrees in business administration and electrical engineering, and a Master of Science in electrical and computer engineering.
“Sassine’s outstanding track record, strong industry relationships, and keen understanding of both the technical innovation and business execution of our company makes him a great choice for the COO position,” said Aart de Geus, chairman and co-CEO of Synopsys. “As Synopsys continually evolves to sustain strong growth and technical innovation, Sassine’s infectious enthusiasm, can-do management and focused execution are perfect to help lead the company to deliver on our growth and profitability objectives.”
“It is a privilege to assume the COO position, working alongside our senior leaders to further evolve and focus the strengths of Synopsys,” said Sassine Ghazi. “Our strategy has never been more compelling in delivering high-value innovation to enable our customers’ ambitious objectives. I am incredibly energized to work with the team as we continue to accelerate technical impact, sharpen operational excellence and deepen customer relationships.”
“Synopsys is a strong company powered by industry leaders, an outstanding field organization and committed employees,” added Chi-Foon Chan, co-CEO of Synopsys. “Sassine embodies the characteristics we honor: technical depth, integrity and a passion for customer and team success.”
About Synopsys
Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world’s 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you’re a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements, including statements related to Synopsys’ business and financial objectives. Forward-looking statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to: the effect of the covid-19 pandemic and the associated economic downturn on our business, operations and financial condition; and actions by the United States or foreign governments, such as the imposition of additional tariffs or export restrictions, which could interfere with our business operations or our ability to provide products and services in certain countries. Other
risks and uncertainties that may apply are set forth in the risk factors section of Synopsys’ most recently filed Quarterly Report on Form 10-Q. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.
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