Citrix Settles With Activist Elliott, Begins New CEO Search
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Citrix Systems Inc. said it reached a settlement with investor Elliott Management Corp., agreeing to add the activist’s chief agitator Jesse Cohn to its board and begin a search for a new chief executive officer.
In a flurry of statements Tuesday, Citrix said the standstill agreement also includes adding another mutually agreed upon independent board member, changing the chairman and conducting strategic and operational reviews. Current CEO Mark Templeton, who separately announced plans to retire, will continue to serve until a successor has been found.