Magma names Timothy Ng to Board

By siliconindia   |   Thursday, 03 April 2003, 20:30 IST
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CUPERTINO: Rajeev Madhavan led Magma Design Automation Inc. (Nasdaq:LAVA) on Thursday announced the appointment of Timothy J. Ng to its board of directors, effective immediately. Ng fills the board seat vacated by Andreas Bechtolsheim, who resigned in February. Ng has recently joined Soundview Technology Group as a managing director and head of Mergers and Acquisitions, and served as a managing director in the Global Technology Group at Credit Suisse First Boston until December 2002. Bechtolsheim had served on Magma's board since 1997. Since September 1996, he has served as vice president of engineering of the Gigabit Switching Group at Cisco Systems. In 1995, Bechtolsheim founded Granite Systems, a developer of high-performance multi-layer network switches based on the emerging gigabit ethernet standard, which was later acquired by Cisco Systems. In 1982 he co-founded Sun Microsystems, where he was the chief architect of Sun's workstation product line. He received a master's degree in computer engineering from Carnegie Mellon University. Ng has been an investment banker for more than 16 years, most recently with CSFB, where he advised companies on numerous transactions in the electronic design automation and technical software industries since 1999. Prior to his experience with CSFB, Ng worked at SG Cowen Securities Corp. in San Francisco from 1995 to 1999, most recently as a managing director; as a vice president in corporate finance with Morgan Stanley Dean Witter in New York; and as a vice president with CS First Boston, also in New York. "Andy has been on Magma's board through periods of great change and achievement for the company, and I'm very glad to have had his counsel for the past several years," said Rajeev Madhavan, chairman of Magma's board of directors. "We are very glad, though, that as Andy is leaving we are able to add someone with Tim's background in his place. Tim's knowledge of EDA will be of great assistance, as he has a uniquely broad perspective on recent developments in the industry. We expect him to be a great addition to the board."