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DOGE Put Him in the Treasury Department. His Company Has Federal Contracts Worth Millions

Feb 21, 2025 - wired.com
Tom Krause, CEO of Cloud Software Group, has been appointed as the fiscal assistant secretary at the US Department of Treasury while retaining his corporate role, a move that has raised concerns about potential conflicts of interest. Cloud Software, which has significant federal contracts, could benefit from Krause's dual roles, although there is no evidence of improper conduct. Krause is classified as a "special government employee," expected to adhere to ethical standards similar to other government employees. Critics worry about the challenges of managing both roles, especially during simultaneous crises.

The Department of Government Efficiency (DOGE), under President Donald Trump's directive, has been tasked with modernizing federal technology and cutting costs. Krause is among several tech executives appointed to federal roles, though he is unique in maintaining a CEO position. Cloud Software, formed from the merger of Citrix and Tibco, has faced financial challenges and cybersecurity concerns. Despite competition from companies like Microsoft, Citrix has recently seen financial improvement by focusing on the needs of large clients, including government agencies.

Key takeaways:

  • Tom Krause has been appointed as the fiscal assistant secretary of the Department of Treasury while continuing his role as CEO of Cloud Software Group, raising concerns about potential conflicts of interest.
  • Cloud Software Group has several ongoing contracts with federal agencies, including the Department of Treasury, valued between $7.3 million to $11.8 million.
  • The Department of Government Efficiency (DOGE) is tasked with modernizing government technology, and its authority is being challenged by some Democratic state attorneys general.
  • Cloud Software Group, formed through a merger of Citrix and Tibco, has faced financial challenges and cybersecurity accusations, but its Citrix services remain popular with government agencies due to affordability and compatibility with older infrastructure.
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