The Citrix Board has initiated a CEO search process and has retained search firm Heidrick & Struggles to assist with the process of identifying and evaluating candidates.
Templeton has served as President of Citrix since 1998 and CEO since 2001. He joined Citrix in 1995 as Vice President of Marketing, prior to the company’s IPO.
Robert Calderoni, 55, a Citrix director was named executive chairman. Calderoni would also chair a board committee heading the search for a successor to Templeton. He has been a Director of Citrix since June 2014. He served as chairman and CEO of Ariba for 13 years. Prior to his role as CEO at Ariba, Calderoni held senior executive positions at Apple and IBM. He has served as a CFO at several large public companies.
Thomas Bogan, 63, Citrix’s current chairman, will assume the role of lead independent director of the Citrix board. Thomas F. Bogan has served as a director of the Company since January 2003 and he served as Chairman from May 2005. Bogan has served as CEO of Adaptive Insights, a provider of cloud-based performance management solutions since January 2015.
Jesse Cohn, 34, head of activist investments at Elliott, an investment firm whose affiliated funds own approximately 7.5 percent of the company’s common stock, has been appointed to Citrix’s board. The company would add another board member to be mutually agreed upon. Cohn manages the technology investments at Elliott. He has played an integral role in several acquisitions, including the 2010 purchase of the business software firm Novell Corporation, which was valued at $2 billion. Cohn has led more than 30 shareholder campaigns against the likes of Compuware, BMC Software, and lately EMC, becoming one of the most powerful and effective activists in the finance industry.
Cohn will also be part of a new committee at Citrix that will review operations to improve the company's margins, profitability and capital structure. Calderoni will chair the group. Cohn replaces TPG Capital’s Partner Asiff Hirji, 49, on the board, who steps down.
Date: August 3, 2015