Synopsys, Inc. (SNPS), a provider of design IP solutions in the semiconductor and electronics industries, on Wednesday announced the appointment of Jesse Cohn to its board of directors as an independent director, effective June 1, under a cooperation agreement with Elliott Investment Management.
Cohn is a managing partner at Elliott and will also join the board's Corporate Governance and Nominating Committee.
Cohn will also join the Corporate Governance and Nominating Committee of the Board.
Following the appointment, the company's board will expand to 11 members.
Under the cooperation agreement, Elliott agreed to customary standstill, voting and confidentiality commitments, among other provisions.
On Wednesday, Synopsys closed trading 1.62%, 8.64 cents lesser at $525.92 on the Nasdaq. In the overnight, the stock is further trading 2.37%, 12.47 cents down at $513.45.
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