The president of
software business is leaving the company for another job, with his responsibilities shifting to Chief Executive
according to a regulatory filing.
is leaving to become CEO of the combined company of
Citrix Systems Inc.
and Tibco Software. Vista Equity Partners and Evergreen Coast Capital Corp., the private-equity arm of Elliott Management Corp., in January agreed to buy Citrix for $16.5 billion, including debt, to combine the cloud-computing company with Tibco.
Broadcom said earlier Monday that Mr. Krause would formally depart the company on July 15.
Mr. Krause’s position as president of Broadcom’s software group will be eliminated, with those responsibilities now delegated to Mr. Tan, Broadcom said.
The filing noted that Mr. Krause’s resignation isn’t the result of any disagreement with the company or management, and that he would assist in the transition.
Mr. Tan’s added responsibilities come as Broadcom is in the process of buying the software company
for $61 billion, in one of the biggest takeover deals this year. Mr. Tan is betting that bundling various technology offerings that are essential to large corporate customers can yield outsize returns.
Broadcom also on Monday said its chief operating officer,
is now the president of the Semiconductor Solutions Group, the company’s semiconductor portfolio. He will remain responsible for global operations and sales in both the semiconductor and brocade storage networking business segments.
Corrections & Amplifications
Thomas Krause is president of Broadcom’s software business. An earlier headline and article incorrectly said that he was president of Broadcom. (Corrected on July 11)
Write to Dean Seal at [email protected]
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