Citrix for sale? Maybe not
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Citrix for sale? Maybe not

Citrix Systems has announced the appointment of its fourth new CEO since 2015. David J. Henshall will be taking the reigns from Kirill Tatarinov, but he is not new to the company or the role. Henshall has been the company’s chief financial officer and chief operating officer, and he did a stint as acting CEO and president between 2013 and 2014. This may mark a change in the company’s direction. Citrix has been the subject of on-and-off takeover rumours for over a decade, and they resurfaced earlier this year under the suggestion that an activist investor was urging the company to consider a sale.

Citrix Systems’ share price is up 15% so far this year

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SOURCE: Yahoo Finance

The company has issued a statement saying:

“The Citrix board has identified the leadership team to drive the company’s long-term strategy and growth, led by David Henshall. In addition to product excellence and growth, Citrix is committed to operational efficiency and value creation. This includes a series of 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.”

In a separate statement, Robert Calderoni, executive chairman of Citrix’s board, said: "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. We now have the right team in place to execute on that vision."

Disclosure

Dominion holds Citrix Systems in its Global Trends Managed Fund.


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