Broadcom is buying software company VMware in one of the biggest takeover deals so far this year.
Photo:
MIKE BLAKE/REUTERS
The president of
Broadcom Inc.’s
AVGO -3.17%
software business is leaving the company for another job, with his responsibilities shifting to Chief Executive
Hock Tan,
according to a regulatory filing.
Thomas Krause
is leaving to become CEO of the combined company of
Citrix Systems Inc.
CTXS 1.54%
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
VMware Inc.
VMW -1.14%
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,
Charlie Kawwas,
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]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
