Citrix Systems has let go of its CEO, Kirill Tatarinov, in a mutual separation decision, and said CFO and COO David Henshall will take over with immediate effect. Mark Coyle, senior VP of Finance, will be interim CFO.
As part of the changes in its executive team, the company has also formed an Operations and Capital Committee to advise on how Citric can drive margin expansion and return capital to shareholders. The committee will be led by Citrix executive chairman Robert Calderonia, with the new CEO, plus directors Jesse Cohn and Peter Sacriptanti.
The company plans to soon unveil strategic initiatives intended to drive operating margin expansion, increase capital return and facilitate further investment in accelerating Citrix’s transformation to a cloud-based subscription business and in high-growth areas, such as data security and analytics services. Citrix will provide additional details on these initiatives when it releases its second quarter results on 2 August.
Reports in March said the company had started looking for a buyer.
