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Tom Krause resigned as Broadcom’s software chief in July 2022 to become CEO of the planned Citrix-TIBCO combination. His departure mattered because he had been expected to lead Broadcom’s software operations, including VMware, after Broadcom’s proposed acquisition of VMware. Broadcom CEO Hock Tan assumed Krause’s responsibilities; the Citrix transaction later closed on September 29, 2022, and Krause then became the combined company’s president and CEO.
What happened in July 2022
Krause notified Broadcom on July 6, 2022, that he would resign effective July 15. On July 11, Vista Equity Partners and Evergreen Coast Capital announced that he would lead the company they planned to create by acquiring Citrix and combining it with TIBCO. The appointment was conditional on the transaction closing; Krause did not become CEO of the combined business on the announcement date.
Broadcom’s filing with the SEC said the resignation was not the result of a disagreement with Broadcom or its management over performance, operations, policies, practices, or financial reporting. The public record cited here establishes a leadership change, not a dispute or a transaction breakdown.
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Why Broadcom’s response mattered
Krause was more than a finance executive leaving for another job. Broadcom had made him president of its Software Group in 2020, and he was expected to oversee VMware within that organization after the proposed acquisition. He had taken part in discussions about the VMware transaction and post-closing planning. His departure therefore left Broadcom with a significant software-leadership transition as it prepared for a major integration.
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Broadcom said Tan would immediately assume Krause’s responsibilities and that the president-of-Software-Group position would be eliminated. That concentrated responsibility with Tan rather than announcing a direct replacement. It did not mean that Broadcom had appointed Charlie Kawwas to Krause’s role: Kawwas’s appointment was separate. Effective July 11, Kawwas became president of a new Semiconductor Solutions Group while continuing as Broadcom’s COO and retaining responsibility for global operations and sales across its semiconductor and Brocade storage-networking businesses.
The change invited questions about leadership capacity during the VMware integration, but it is not evidence that Krause’s departure threatened or delayed the VMware deal. Broadcom’s communication related to the VMware transaction identified Tan as taking on the relevant responsibilities; the available filings do not attribute a change to the transaction to Krause’s exit.
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Krause’s path through Broadcom
Krause joined Broadcom in January 2012 as vice president of corporate development. He became CFO in October 2016 and served in that role through December 2020, when he moved to lead the Software Group. That group included six software divisions as well as software sales, customer support, and operations. His experience crossed acquisitions, finance, and the management of a large software portfolio—important context for both the role he left and the one he accepted. He holds a bachelor’s degree in economics from Princeton University, according to the Citrix closing filing.
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Vista and Evergreen were acquiring Citrix and intended to combine it with Vista portfolio company TIBCO. The businesses had distinct product histories and strengths: Citrix was associated with digital-workspace technologies, while TIBCO offered data, integration, and analytics software. Leading the combined company meant more than supervising a single product line; it involved integrating operations and portfolios while guiding a business moving into private ownership.
At the time Krause was announced, Citrix shareholders were to receive $104 per share in cash, and regulatory approvals were still pending. Bob Calderoni remained Citrix’s interim president and CEO, while Dan Streetman continued as TIBCO’s CEO until the transaction closed. Vista and Evergreen described Krause as bringing more than 20 years of experience building and leading software and technology businesses. That background made his acquisition and operating experience relevant, but it did not guarantee that integration would be straightforward.
From appointment to completed transaction
The deal closed on September 29, 2022. The closing announcement valued the transaction at $16.5 billion including assumed Citrix debt, and Citrix shares ceased trading on Nasdaq. Krause then became president and CEO of the combined company; Thomas Berquist became its CFO, according to the closing Form 8-K. This later outcome confirms the July appointment, but it should not be confused with the state of the deal on July 11.
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Krause’s move was strategically notable for both organizations: Broadcom lost an executive expected to guide software operations through the VMware integration, while the Citrix-TIBCO owners gained a leader with experience in software, finance, and corporate development. Because Broadcom was preparing to acquire VMware and Citrix operated in enterprise software, the move could naturally prompt questions about competition and access to sensitive information.
Those questions are not findings. Broadcom’s filing expressly said the resignation was not prompted by a disagreement, and the cited public filings do not establish wrongdoing, misuse of confidential information, or a breach of duty. Nor do they establish a legal restriction that would have barred Krause from taking the Citrix-TIBCO role. The documented story is an executive departure, a change in Broadcom’s leadership structure, and a CEO appointment that took effect when the acquisition closed.
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