(Reuters) -Synopsys on Wednesday named 25-year veteran Sassine Ghazi as its CEO and president, succeeding Aart de Geus who will move to the role of executive chair at the chip design software firm.
Shares were up 2.7% in extended trading, after the California-based company also forecast fourth-quarter revenue above Wall Street estimate as artificial intelligence (AI) innovations fueled demand for custom semiconductor design.
Synopsys expects fourth-quarter revenue to be in the range of $1.57 billion to $1.60 billion, the mid-point of which is above market estimate of $1.57 billion, according to Refinitiv data.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar)
