Intel marketing exec headed for Cadence

SAN FRANCISCO--Mike Fister, the former Intel executive who now is Cadence Design Systems' chief executive, has lured a top Intel marketing manager to his new employer, sources said.

Intel's Ajay Malhotra is taking a marketing post at Cadence, sources familiar with the matter said. He is one of two people at Intel who holds the position of general manager of enterprise marketing and planning.

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Intel spokesman Scott McLaughlin confirmed Wednesday that Malhotra is leaving Intel but declined to comment on where he's going. McLaughlin also declined to say whether the company plans to hire a replacement. Malhotra shares his post with Richard Dracott, who remains at Intel.

Cadence, which sells software for designing chips and other electronic equipment, confirmed on Wednesday afternoon that the company had hired Malhotra.

Mike Fister, who once led server processor work at Intel, became Cadence's CEO in May.