"Michael Cowpland announced Tuesday that he was stepping down
from the helm of Corel Corp., the now-struggling Ottawa software
firm he founded in 1985."
"In a press release, the Porsche-driving entrepreneur, who
is facing insider trading charges from the Ontario Securities
Commission, said he was resigning his posts as president, chief
executive officer and chairman of the board."
"The release said Mr. Cowpland would "dedicate his time and
resources to new start-up opportunities." It also stated that
although he would no longer be involved in the day-to-day
operations of the company, he would continue to serve as a director
and technology adviser to Corel."