Anirudh Devgan, a notable computer scientist and former student of India’s renowned Indian Institute of Technology (IIT), Delhi, has risen to become the CEO of software powerhouse Cadence Design Systems. This company boasts a staggering market value of more than $62 billion (approximately Rs 5,17,000 crore).
Growing up on the premises of the IIT campus, where his father held a teaching position, Anirudh Devgan opted to step away from academia and make his mark in the world of business. After attending Delhi Public School (DPS) and completing his electrical engineering studies at IIT Delhi, he ventured to the United States for further education. There, he achieved both a master’s and a PhD in Electrical and Computer Engineering from Carnegie Mellon University.
Devgan embarked on his professional journey at the renowned IT giant, IBM. Following a decade-long engagement across various divisions of IBM in research and management roles, he contributed his expertise for six years at Magma Design Automation. Subsequently, his trajectory led him to Cadence, where he ascended the ranks to become its President in 2017, ultimately achieving the pinnacle position of CEO and a seat on the board of directors in December 2021.
In taking the helm as CEO, Devgan’s compensation included a base salary of $725,000, coupled with a targeted bonus amounting to 125% of his base salary. Additionally, he received stock options valued at an impressive $15 million. His accomplishments have not gone unnoticed, with Devgan also earning the esteemed Phil Kaufman Award in 2021.
In terms of earnings, media outlets reported that in 2022, Devgan commanded an annual salary of approximately $264 million (equivalent to Rs 2,201 crore) during his tenure as President and CEO of Cadence. This places him among the ranks of other notable Indian-origin CEOs in the American tech industry, such as Satya Nadella of Microsoft, Sundar Pichai of Google, Jayshree Ullal of Arista, and Arvind Krishna of IBM, all based in Silicon Valley.