Well, DH sent an email that he is out now. Guess Elliot pushed him out.
I got a feeling something big is coming and its not going to be good for us.
9 replies (most recent on top)
Remember Diarrhea Sh-t always dribbles downhill and rains on the hard working employees. Here we go again…..
That explains why the stock dropped. It's a double whammy. XX millions to ex-CEO and YY millions to interim-CEO. Wait for the search to get over, and ZZ millions to new CEO.
I am selling all my ESPPs/RSUs right away.
Official 8K confirmation that all DH RSUs will vest immediately upon termination
"In connection with Mr. Calderoni’s appointment, Mr. Henshall will transition from serving as President and Chief Executive Officer of the Company to serving as an advisor to the Company’s Chief Executive Officer. As part of this transition, on October 5, 2021, the Company entered into a second amendment to the existing Employment Agreement with Mr. Henshall providing for, among other things: (a) a reduction in his base salary to $100,000; (b) annual cash incentive compensation for 2021 based on actual achievement of the relevant performance metrics and pro-rated for the portion of the performance year completed as of the date of the amendment; and (c) no additional entitlement to annual cash or equity incentive awards after the date of the amendment. Mr. Henshall will remain entitled to certain payments and accelerated vesting of outstanding equity awards upon termination of his employment with the Company under certain circumstances as provided in the Employment Agreement as amended. A summary of Mr. Henshall’s Employment Agreement is set forth in the Company’s proxy statement for its 2021 Annual Meeting of Shareholders filed with the SEC on April 16, 2021 under the caption “Executive Compensation—Potential Payments upon Termination or Change in Control—President and Chief Executive Officer,” which summary is incorporated herein by reference. The foregoing summary of the Second Amendment to Employment Agreement with Mr. Henshall does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Second Amendment to Employment Agreement. In addition, effective October 1, 2021, Mr. Henshall resigned as a member of the Board."
Simply ridiculous deriliction of shareholder fidiciary duty how much Caledroni has extracted from this stagnant company since 2015
"President of the Company, Mr. Calderoni will receive an equity grant of restricted stock units with an aggregate value of $19.3 million (the “TRSUs”) that will vest in twelve monthly installments, subject to his continued service relationship with the Company. Mr. Calderoni also will be entitled to participate in all employee benefit plans or programs of the Company generally available to any of its senior executive employees as well as certain other benefits described in the Employment Agreement."
Read the latest 8K filing, new guy is getting $19MM in RSUs that vest monthly over the next year plus his salary and bonus
It surprised! DH is the reason Citrix has gone to he-l! Talk about the work acquisitions a company has ever made!
It will be crazy to see shitrix struggle for talent once the layoffs are done. The last time they did it, it was very tough to find talent, and right now the market is hot. The downward death spiral has begun.
This is going to be fun. The interim CEO who is taking over is a butcher, and ki---d many jobs in his history with CTXS.
We will most likely have layoffs to pay for the severance that the outgoing one has to get. Get back to work minions !
Last time we lost a CEO, he got a fat golden parachute ($32 million) and we ended up having huge layoffs that coincided with it.
https://www.sun-sentinel.com/business/fl-bz-citrix-ceo-severance-20170711-story.html
So yeah... can't wait to see what DH is going to get and what that is going to cost us.