SYNOPSYS SETTLES WITH ELLIOTT, ADDS JESSE COHN

The chip-design software maker announced the agreement following pressure from Elliott, which had been pushing for changes at the company. Cohn's appointment gives the activist firm a seat at the table as Synopsys navigates its strategic direction. Elliott typically targets companies it believes are underperforming or mismanaged, seeking board representation to influence operational and financial decisions. The settlement avoids a potentially contentious proxy fight. Synopsys provides critical software tools for semiconductor design and verification. The company's board expansion comes as the chip industry faces shifting dynamics, including supply chain complexities and evolving customer demands. Terms of the broader settlement were not detailed in the announcement. The appointment reflects a common resolution path when activist investors gain sufficient leverage to negotiate governance changes without full-scale boardroom battles.