Tatarinov Out As Citrix CEO, COO Henshall Named New President And CEO

Kirill Tatarinov is out as president and CEO of Citrix Systems and the company's board has named David J. Henshall, currently the company's CFO and chief operating officer, as the new CEO and president.

The management changes follow "the mutual separation decision between the Citrix board and Kirill Tatarinov," the company said in a statement late Monday. The company gave no additional details about the reasons for the management change.

Tatarinov, a former Microsoft applications executive, was hired in January 2016 as Citrix's president and CEO. He replaced former CEO Mark Templeton, who stepped down after the company went through a turbulent year.

[Related: Reports: Citrix May Be Up For Sale Again]

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Citrix, in its statement, made it clear that its appointment of Henshall as the new president and CEO is not a temporary measure.

"The Citrix board has identified the leadership team to drive the company’s long-term strategy and growth, led by David Henshall," the company said.

"David is a proven leader who knows our company inside and out, and the board has the utmost confidence in him," said Robert Calderoni, executive chairman of the Citrix board, in the statement. "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."

Calderoni, in the statement, thanks Tatarinov for his leadership, adding that: "The progress we made under his leadership has positioned Citrix well for the next phase of its corporate transformation."

The Ft. Lauderdale, Fla.-based company also said that with Henshall moving up to become president and CEO, senior vice president of finance Mark Coyle has been named interim CFO to fill the vacancy. The company said it has retained an executive search firm to find a new CFO, "with both internal and external candidates being considered."

"In addition to product excellence and growth, Citrix is committed to operational efficiency and value creation," the company's statement said. "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. Citrix will provide additional details on these initiatives on the upcoming second quarter earnings call," the statement said.

The company, a developer of virtualization, networking and file sharing software, said it would provide more information about those initiatives during its second quarter earnings call, now scheduled for Aug. 2. The company also said it is reaffirming its guidance for its second quarter, ended June 30, with revenue expected to be in the range of $685 million to $695 million.

The company also said it has formed an Operations and Capital Committee to work with Citrix management and advise the board "on a comprehensive review of opportunities to drive margin expansion and return capital to shareholders." Calderoni and Henshall will sit on the committee, along with two other directors.

On Feb. 1 Citrix completed the spin-off of its GoTo business, which was merged with LogMeIn in a transaction valued at $1.8 billion.