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A sad day for tibco and even more sad for vmware. Once great companies, now in the tech dustbin. Hail Hydra, I mean Hock…
Krause finally had "imposter syndrome".
After all, Krause is a finance guy. VMW is a giant beast with highly technical software.
To shoe ho-n it in and not cut to the bone where it hurts revenue is a magic trick that you can't solve with a bunch of ignorants sitting around a table with a red pencil.
not a big loss. he was cfo and just tweaking the model. now he's at Citrix/Tibco. so he'll do the same model with them, slash and burn. lmao.
then sell to hock in 2-3 years. lmao.
Hock will probably reward him for it. He is a no talent hack. So many other options to “run” that business.
@inz+1hF14b2W, He's the one who supposedly forgot to put raises in the budget for 2021, so that probably answers your questions. Now how Hock viewed that "mistake" is still an unanswered question.
@rjk+1hF14b2W Please, be serious. He isn't going anywhere unless he is kicked out. The BU operates with about a 90% profit margin, so that isn't happening anytime soon. Thought I hear he did get put in the dog house for some unethical behavior related to granting unearned payouts to his three letter buddies, I'm sure all is forgiven.
Octane running software means even more will quit
Krause was a CFO. So, he wasn't running anything. BSG is his first opportunity. Now, Hock shift himself to BSG and ask the COO to run the semi groups. Although semi groups are mostly in autopilot now, he is/was involved in day to day execution (especially deals). I think the semi groups will suffer a bit without him. Let's see what the COO can do here.
On the other hand, Hock is putting himself in the middle of change/chaos now. He is going to run software.
Just announced... he's going to Citrix... when it merges with Tibco. https://www.businesswire.com/news/home/20220711005819/en/Vista-Equity-Partners-and-Evergreen-Coast-Capital-Announce-Appointment-of-Tom-Krause-as-CEO-of-Combined-Company-of-Citrix-Systems-and-TIBCO-Software-Upon-Closing
What is Krause like as a leader?
Please tell me Corvette Boy is next. This would be the best year ever.
Will someone from our leadership be next in line for succession? Hock can’t do Krauses job long term, can he?
zzzzzzz... need a real software guy to run this puppy....
Broadcom Inc. is losing one of its most senior executives, dealing a blow to the chipmaker as it attempts to close one of the biggest technology deals in history.
Tom Krause, 44, is resigning as president of the chipmaker’s software group effective July 15 to move to another company, the company said in a regulatory filing Monday. Broadcom didn’t disclose Krause’s new employer beyond saying it’s a privately held enterprise software company.
Broadcom Chief Executive Officer Hock Tan will assume his responsibilities and the position of president of Broadcom’s software group will be eliminated, the filing said. Charlie Kawwas, chief operating officer, has been named president of the company’s new semiconductor solutions group alongside his current responsibilities.
Krause joined San Jose, California-based Broadcom in 2012 and became its chief financial officer in 2016. Since 2020, he’s led the chip firm’s six software divisions and was one of the chief negotiators, alongside Tan, in its $61 billion acquisition of cloud-computing company VMware Inc.
In a May interview with Bloomberg News when the VMware deal was announced, Krause said the company offers a reliable source of profitable sales. He added that Broadcom will evaluate where VMware is spending research-and-development funds, as well as some of the newer businesses that the software maker has acquired.
Krause’s departure isn’t the result of any disagreement with the company or management “on any matter relating to the company’s performance, operations, policies, practices or financial statements,” Broadcom said in the statement.