Cadence's Costello Ranked America's Top-Performing CEO by Chief Executive Magazine
San Jose--June 17, 1997--Joseph B. Costello, 43, president and CEO of Cadence Design Systems Inc. (San Jose), has achieved the top performance ranking in Chief Executive Magazine's recently released 1997 CE100 listing of the most effective CEOs in the country. Costello garnered the number one spot in the CE100's CEO Performance Index, which evaluates company CEOs over a three-year span using a number of different metrics, including growth in earnings per share, market capitalization improvement, and return on equity.
Costello was cited for his role in driving a "dramatic shift in the company's business model," which has made Cadence a more complete provider of services and technology to its customers while creating a new business paradigm for the electronics industry.
Cadence's stock price growth over the three-year period evaluated in the most recent ranking (December 31, 1993 through December 31, 1996) was 663.71 percent, the 19th best of the more than 6,500 publicly traded companies surveyed. The CE Performance Index adjusts for size differentials among companies to better measure the CEO relative to the scale of opportunity to grow or perform, which placed Costello number one among his peers at a wide range of companies such as Intel, Microsoft, Nike, HBO, and America On-Line.
Cadence Design Systems
San Jose, CA
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