Citrix Founder Quits in Shake-up

Citrix Systems Inc., a maker of network software, said founder and Chairman Edward Iacobucci had resigned as part of a management shake-up following the company’s recent profit warning and a sharp drop in the value of its shares. In a statement, the Fort Lauderdale, Fla.-based company named former Chief Executive Roger Roberts as chairman and has started a search for a new CEO to replace Mark Templeton, who will remain with the company as president. The company said Roberts, who served as its chief executive from 1990 to 1998, will serve as interim CEO during the search. On June 12, shares of Citrix fell more than 45% when the company warned that second-quarter earnings would be half of analyst forecasts. Since then, more than a dozen shareholder lawsuits have been filed against Citrix and Citrix management, charging the company with lying about its financial condition and growth potential. Citrix shares dropped $4.06 to close at $18.69 on Nasdaq.