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Change Of Guard At Citrix Systems, Inc. (NASDAQ:CTXS)

July 29, 2015 | Telepresence Options

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Story and images by Viraj Shah / Live Trading News

A series of announcements made by Citrix Systems, Inc. (NASDAQ:CTXS) suggest that the company is in for a major organizational reshuffle. The company announced its second quarter earnings and the retirement of its CEO Mark Templeton.

Templeton had joined the company in 1995 as the Vice President of Marketing. He rose to the position of President in 1998 and to that of the CEO in 2001.

Citrix Systems, Inc. (NASDAQ:CTXS) has entered into a "cooperation agreement" with Elliott Management Corp, which holds 7.5 percent stake in the company and is one of its largest investors. The agreement between the two companies regarding effective management recruiting strategy states the appointment of Jesse Cohn to the Citrix's board. The search for an additional and independent board member is on.

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