Company Said Templeton Made 'Multiyear Commitment'
Citrix Systems Inc. CTXS -0.37% said President and Chief Executive Mark B. Templeton will stay on in his current position and won't retire as previously planned.
Mr. Templeton had taken a leave of absence last year following the death of his son and in January announced his intention to retire next year.
Citrix didn't specify how long Mr. Templeton would stay beyond saying he made a "multiyear commitment."
The company--which specializes in virtualization, networking and cloud infrastructure--has benefited from increased demand for desktop visualization, a crucial step in cloud computing.
Mr. Templeton, who joined Citrix in 1995 as vice president of marketing, said his personal circumstances had changed and he wanted to lead Citrix through the next period of transition.
"After completing our search process, and considering a number of qualified candidates, the board concluded that Mark is the best leader to drive the company forward at this time of dynamic change in our business," Chairman Thomas F. Bogan said.
"While Mark has made a multi-year commitment, CEO succession remains an important focus for our board and we will continue to manage for the time when he steps down," he added.
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