Citrix Makeover: 9 Sweeping Changes Being Demanded By Elliott Management
A New Citrix Plan
Elliott Management Group, a powerful New York-based hedge fund that has pressed for changes at a number of technology companies, including EMC, has set its sights on steering Citrix Systems, the beleaguered virtualization vendor, in a new direction.
Jesse Cohn, the driving force behind Elliott's tech activism, has led a series of bold forays into the tech sector, many of which have sought to dismember the businesses they targeted.
Cohn on Thursday disclosed that the hedge fund now has a 7.1 percent stake in Citrix and presented the rough outlines of the "New Citrix Plan" in a letter to Citrix's board of directors.
Among the areas in which Cohn is looking for changes are Citrix's channel strategy, which he claims "is stretched across too many channel partners, with important channel-enablement resources being directed to sub-scale partners."