Citrix Just Replaced Its CEO—Again
Citrix is getting a new CEO—again.
The business software company said Monday that David J. Henshall, previously Citrix’s chief financial officer and chief operating officer, has become CEO.
It was just a little over a year ago when former Microsoft msft executive Kirill Tatarinov was appointed CEO amid a period of tumult for the Fort Lauderdale, Fla.-software company. At the time, activist investment firm Elliott Management was pushing Citrix ctxs to sell “non-core” parts of its business like the GoToMeeting video conferencing unit. Citrix complied by spinning that division out as an independent company.
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Citrix, which has a market cap of $12 billion, is known for selling software that lets company IT staff more easily manage workplace computers without having to physically inspect each device.
The company gave no reason for Tatarinov’s departure. In a tweet on Monday, Tatarinov acknowledged the management change:
Tatarinov’s departure comes at a time when Citrix is reportedly considering selling itself, not just individual business units. In March, various news services reported that Citrix was working with Goldman Sachs on a possible sale and that private equity firm Thoma Bravo may be interested in the company.
In a statement on Monday, Citrix did not mention any possible sale. It instead said that its new CEO will help the company refocus on cybersecurity and data analytics services, and push to a software subscription model—similar to companies like Salesforce.
“Moving forward, the board believes that accelerating our cloud transformation will position the company for even greater success in the years ahead, driving greater value for our shareholders,” said Citrix executive chairman Robert Calderoni said in a statement. “We now have the right team in place to execute on that vision.”
Citrix shares fell nearly 4% to $77 in after-hours trading on Monday.