IT-Director: Where now as Corel boss jumps ship?Aug 17, 2000, 19:49 (1 Talkback[s])
(Other stories by Bellman)
"In an inevitable step, Corel CEO, David Cowpland, has resigned his position and intends to dedicate his time to developing Linux-based start-up companies. Cowpland has hung on while Corel steered itself through a torrid period in its corporate history but is now jumping ship as the indications of an upturn in the company's fortunes begin to show."
"The resignation comes at a time when Corel is beginning to show signs of some recovery. It has arranged a number of OEM and bundling deals that should assist with future revenues and raised some funds through share sales. At the same time, interest in the Linux market has grown in the last few days as major suppliers such as Dell have announced their long-term interest in the technology. As a result, there has been a general rise in the value of Linux-related share prices of which Corel has been a beneficiary."
"It is probable that the removal of Dr. Cowpland from the day-to-day running of the business is the last major step for Corel in managing the crisis that has dogged its recent activities. It represents the end of the old business and now it must go about reinventing its business strategy. Corel bought into Linux in a big way and it was the failure of that environment on the desktop that contributed most to the problems. It is too late to go back on its drive towards Linux but, now that it is leaner and a whole lot wiser, Corel should be better placed to survive in a market that is growing slowly rather than exploding as it previously believed."