Citrix Systems appointed Arlen Shenkman executive vice president and finance chief starting September 9.
Shenkman joins the information-technology company from software maker SAP, where he held financial and business development roles critical to SAP’s cloud transformation.
“Our cloud transformation, and the shift to a subscription model, is moving rapidly,” said Citrix CEO David Henshall. “Arlen’s experience in driving accelerated growth through a shift to a subscription model, and in accelerating business outcomes through M&A, greatly bolsters our seasoned leadership team, many of whom have also helped other leading companies with their cloud transformations.”
In his new role, Shenkman will be responsible for the company’s financial and capital management strategies, budgeting and planning, financial accounting, tax and treasury, investor relations, strategic alliances, and mergers and acquisitions.
Shenkman succeeds Jessica Soisson, who stepped in as Citrix’s interim CFO in April 2019 when the company’s chief financial officer Andrew Del Matto resigned after one year to become CFO at cloud security company Netskope. Soisson will remain at Citrix in the role of vice president, chief accounting officer, corporate controller, and principal accounting officer.
Shenkman, 49, will receive an initial base salary of $575,000, with target variable cash incentive compensation equal to 100% of his base salary, and a sign-on bonus of $500,000. In connection with his appointment, he will receive an award of time-based restricted stock units having a value of $6 million on the grant date, which will vest in equal annual installments over a three-year period subject to his continued employment with Citrix.
Shenkman served in various positions at SAP. Since May 2017, he held the role of executive vice president, global business development, where he was responsible for building new ecosystems, fostering strategic partnerships, incubating new business models, and overseeing investments and mergers and acquisitions. Prior to that role, Shenkman served as CFO of SAP North America.