Synopsys Inc. announced that chairman of the board and CEO Aart de Geus and president and chief operating officer Chi-Foon Chan will function as co-CEOs, effective immediately. The two will share responsibility for managing the company; the organizational structure and duties will remain the same.

Dr. Chan’s appointment recognizes his contributions in co-leading the company for more than 10 years.

“Chi-Foon and I have worked successfully as a close-knit team for over a decade to help elevate Synopsys into its present leadership position,” de Geus said. “Explicitly sharing the CEO position is both galvanizing and timely as we now focus on setting the company’s direction for the next decade of growth and customer focus.”

The company announced last month that it acquired RSoft. (See: Synopsys Acquires RSoft)

Joining the company in 1990, Chan served as vice president of applications and services. He was appointed president and COO in 1998, at which time he also joined the company’s board of directors. He previously worked for NEC Corp. USA.

Synopsys provides software, intellectual property and services for semiconductor design, verification and manufacturing.

For more information, visit: www.synopsys.com