Citrix Appoints Kevin Parker as Chairman of the Board of Directors for Spin-off of the GoTo Products
February 01 2016 - 4:43PM
Business Wire
Citrix Systems, Inc. (Nasdaq: CTXS) today announced the election
of Kevin Parker, co-founder and senior operating principal at
Bridge Growth Partners, LLC, as the Chairman of the Board for the
soon-to-be formed company comprised of the Citrix “GoTo” product
line, effective upon separation in late 2016. Mr. Parker also
serves on the boards of Cvent, Salient CRGT, Intermedia, Aptos
Retail and Polycom.
Prior to his current roles, Mr. Parker spent more than 20 years
as a top executive in software and services companies. As
President, CEO and Chairman of the Board of Deltek, he helped the
company become a leading provider of superior enterprise software,
information solutions and consulting services to leading businesses
worldwide. He also served as PeopleSoft's CFO from October 2000 to
December 2004, and was named co-president of PeopleSoft in October
2004. During his time at PeopleSoft, he was responsible for
internal operations, as well as worldwide finance and accounting
functions, including administration, human resources, legal,
facilities and IT.
Mr. Parker holds a bachelor's degree in accounting from Clarkson
University where he served on its Board of Trustees.
Quotes
Kirill Tantarinov, President and CEO, Citrix
“I welcome Mr. Parker to lead the Board of Directors as we form
this new company. He brings wealth of experience in software and
services. He will play an integral role in the development of the
new, independent company.”
Kevin Parker, Chairman of the Board, Citrix “GoTo”
Spin-off
“I am thrilled to begin working and collaborating with designee
CEO Chris Hylen and the rest of the executive team. This is an
exciting time, and I believe we are in a unique position to build a
company that will lead the market with innovative technologies,
ultimately yielding continuous growth and success.”
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Citrix (NASDAQ:CTXS) is leading the transition to
software-defining the workplace, uniting virtualization,
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ways for businesses and people to work better. Citrix
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instant access to apps, desktops, data and communications on
any device, over any network and cloud. With annual revenue in
2015 of $3.28 billion, Citrix solutions are in use at more than
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For Citrix Investors
This release contains forward-looking statements that are made
pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933 and of Section 21E of the Securities
Exchange Act of 1934. The forward-looking statements in this
release do not constitute guarantees of future performance.
Investors are cautioned that statements in this press release,
which are not strictly historical statements, including, without
limitation, statements by Citrix's executive chairman and by its
CEO and president, statements contained in the Financial Outlook
sections and under the Non-GAAP Financial Measures Reconciliation
section, and statements regarding management's plans, objectives
and strategies, constitute forward-looking statements. Such
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from those anticipated by the forward-looking statements,
including, without limitation, risks associated with transitions in
key personnel, including our newly appointed CEO, and succession
risk; the completion and timing of the proposed spinoff, the future
performance of core Citrix and the GoTo businesses on a standalone
basis if the spinoff is completed, the expected strategic,
operational and competitive benefits of the proposed spinoff, and
the effect of the separation on Citrix, its shareholders,
customers, partners and employees; the impact of the global
economy, volatility in global stock markets, foreign exchange rate
volatility and uncertainty in the IT spending environment; the
success and growth of the company's product lines, including
competition, demand and pricing dynamics and other transitions in
the markets for Citrix's virtualization products and collaboration
services; the company's ability to develop and commercialize new
products and services, including its enterprise mobility products,
while growing its established virtualization and networking
products and services; disruptions to execution due to Citrix's
restructuring programs and actions to be taken as a result of its
operational review; the introduction of new products by competitors
or the entry of new competitors into the markets for Citrix's
products and services; changes in our revenue mix towards products
and services with lower gross margins; seasonal fluctuations in the
company's business; failure to execute Citrix's sales and marketing
plans; failure to successfully partner with key distributors,
resellers, system integrators, service providers and strategic
partners and the company's reliance on and the success of those
partners for the marketing and distribution of the company's
products; the company's ability to maintain and expand its business
in large enterprise accounts; the size, timing and recognition of
revenue from significant orders; the success of investments in its
product groups, foreign operations and vertical and geographic
markets; the ability of Citrix to make suitable acquisitions on
favorable terms in the future; risks associated with Citrix's
acquisitions, including failure to further develop and successfully
market the technology and products of acquired companies, failure
to achieve or maintain anticipated revenues and operating
performance contributions from acquisitions, which could dilute
earnings, the retention of key employees from acquired companies,
difficulties and delays integrating personnel, operations,
technologies and products, disruption to our ongoing business and
diversion of management's attention from our ongoing business; the
recruitment and retention of qualified employees; risks in
effectively controlling operating expenses, including failure to
achieve anticipated cost savings from the restructuring programs
and other cost savings initiatives; ability to effectively meet our
domestic cash requirements and manage our capital structure and the
impact of related changes on our operating results and financial
condition; risks and costs associated with engaging with activist
stockholders; the effect of new accounting pronouncements on
revenue and expense recognition; the risks associated with securing
data and maintaining security of our networks and customer data
stored by our services; failure to comply with federal, state and
international regulations; litigation and disputes, including
challenges to our intellectual property rights or allegations of
infringement of the intellectual property rights of others; the
inability to further innovate our technology or enter into new
businesses due to the intellectual property rights of others;
changes in the company's pricing and licensing models, promotional
programs and product mix, all of which may impact Citrix's revenue
recognition; charges in the event of a write-off or impairment of
acquired assets, underperforming businesses, investments or
licenses; international market readiness, execution and other risks
associated with the markets for Citrix's products and services;
unanticipated changes in tax rates, non-renewal of tax credits or
exposure to additional tax liabilities; risks of political and
social turmoil; and other risks detailed in the company's filings
with the Securities and Exchange Commission. Citrix assumes no
obligation to update any forward-looking information contained in
this press release or with respect to the announcements described
herein.
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Citrix Systems, Inc.Colleen Nichols,
415-489-4204colleen.nichols@citrix.comTwitter: @CitrixPR
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