The first change came in early December with the appointment of Lavi Lev as President and CEO to replace Dave Ranhoff who stepped down. Lev, who had experience in product development, management and business development in the design tool industry had over twenty years experience in the semiconductor industries. He appeared to be an appropriate choice for the company at its specific stage of development. Lev previously worked for a number of firms in the field, including National Semiconductor, Intel, Sun Microsystems, Silicon Graphics and most recently as EVP and General Manager of the products and Solution business at Cadence Systems.
Since Lev's appointment he has been working hard to get the company moving forward. Yesterday the company announced the appointment of Joy E. Leo as senior vice president of finance and CFO. Leo's appointment will be effective upon the filing of the company's quarterly report on Form 10-Q, expected in early June. Ms. Leo has an extensive financial background with over twenty-five years of financial and corporate management experience with leading electronics companies. Prior to joining Credence, she was VP of finance and administration, CFO and secretary for Artisan Components, Inc., now known as ARM Holdings PLC. She also served as VP of finance and administration and CFO for IMP, Inc.; VP of finance, operations and administration at Innomedia Incorporated; and, VP and CFO for Philips Components, a division of Royal Philips Electronics N.V.
The company's new dual leadership could be the beginning of a shift in the company's fortunes.
