Will Citrix Systems Thrive Under New CEO David Henshall?
Zacks Investment Research | Jul 10, 2017 09:01PM ET
Fort Lauderdale-based Citrix Systems (NASDAQ:CTXS) named David J. Henshall as its new president and chief executive officer (CEO) with immediate effect. He has also becomes a board member at Citrix.
Prior to his elevation to the top post, Henshall had served as Citrix’s chief financial officer and chief operating officer for over a decade. Henshall has succeeded Kirill Tatarinov as the CEO. In fact, Tatarinov’s decision to step down was based on a mutual agreement.
Notably, Mark M. Coyle was appointed as chief financial officer (on an interim basis) in place of Henshall as part of the other managerial changes. Also, an Operations and Capital committee has been formed with an aim to drive long-term growth and profitability.
The committee will have Citrix’s Executive Chairman, Robert Calderoni at its helm. Other members are Henshall and directors of the company- Jesse Cohn and Peter J. Sacripanti.
Lack of Stability at the Top
The appointment of Henshall implies that Citrix has had four CEOs in less than two years. The frequent changes at the helm did not find favor with investors. Consequently, the stock declined in after-market trading on Jul 10.
Notably, Citrix’s shares have underperformed the Zacks categorized Original post
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