Synopsys, Inc. (NASDAQ:SNPS) today announced it has entered into a cooperation agreement with Elliott Investment Management L.P. (together with certain affiliates, "Elliott"), including the appointment of Jesse Cohn to its board of directors as an independent director, effective June 1, 2026. Cohn is a Managing Partner at Elliott with a long track record of success as an investor in and director of public technology companies.

"As an experienced board member, Jesse brings a uniquely differentiated perspective," said Aart de Geus, executive chair and founder of Synopsys. "He enthusiastically shares our belief that strategic focus, augmented by disciplined execution, is foundational to achieve both high impact in our industry and sustainable, long-term value creation. His joining us as a director, further strengthens our company, and I welcome Jesse's positive engagement and contributions to our Board."

"Synopsys is essential to the global chip industry and is well-positioned to benefit from increasing AI investment and engineering complexity," said Cohn. "Synopsys has transformed from the leader in EDA to the leader in engineering solutions, and its differentiated portfolio provides substantial opportunity to ensure the company's financial performance reflects the value Synopsys delivers to the industry. I look forward to working with Sassine, Aart and the rest of the team in support of the company's efforts to drive value for all stockholders."

"Jesse has deep appreciation for our business and the mission-critical role we play in helping customers engineer AI-powered products from silicon to systems," said Sassine Ghazi, president and CEO of Synopsys. "As we drive increased competitive differentiation, value and execution across the business, his appointment aligns with our direction. I've enjoyed getting to know Jesse and welcome his constructive insights as a member of the Synopsys Board."

With Cohn joining, the Synopsys Board of Directors expands to 11 members. Under the cooperation agreement, Elliott has agreed to customary standstill, voting, and confidentiality commitments, among other provisions. Cohn also will join the Corporate Governance and Nominating Committee of the Board. The cooperation agreement will be filed on a Form 8-K with the Securities and Exchange Commission.