Citrix Systems has promoted its CFO and COO David Henshall to president and CEO of the company, replacing Kirill Tatarinov.
The company said Henshall's appointment follows "the mutual separation decision" between the Citrix board and Tatarinov, who was president, CEO, and director of Citrix. As part of the changes, Mark Coyle, senior vice president, has also been appointed interim CFO.
The company said it intends to increase investment to speed up Citrix's shift to a cloud-based subscription business model and to move into new areas, such as data security and analytics services.
Citrix is probably best known for its server and desktop and application virtualization products XenApp, XenDesktop, and XenServer, but also offers XenMobile mobile-device management tools, as well as enterprise file sync and sharing, and networking. Its 2016, the company's annual revenue stood at $3.42bn and its software is used by more than 400,000 organizations.
Tatarinov, previously an executive at Microsoft, had been appointed president and CEO of Citrix in January last year. In March this year, Bloomberg reported that the company was working with advisers to seek companies interested in making a bid for it.
Citrix said revenue for its second financial quarter ended June is expected to be in line with the company's current guidance of $685m to $695m "with strong demand from customers for subscription-based solutions".
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