Corel Announces Resignations Of Senior Managers.Business Editors OTTAWA--(BUSINESS WIRE)--May 25, 2000 Corel Corporation's (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CORL CORL Corel Corporation (stock symbol) CORL Coalition of Reef Lovers CORL capital outlay revenue limit CORL change-orientated reflective listening (psychotherapy) CORL Central Ontario Ringette League )(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :COR.) president and chief executive officer Dr. Michael Cowpland Michael Cowpland (born April 23, 1943) is a Canadian entrepreneur, businessman, and the founder and one-time president, chairman and CEO of Corel, a Canadian software company. Cowpland was born in Bexhill, Sussex, England and obtained a BSc. announced today that he has reluctantly accepted notices of resignation from Sandra Gibson, executive vice-president, corporate services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. , and Eric Smith Notable people named Eric Smith have included:
"Both Sandra and Eric have been valuable members of Corel's senior management team. Their contributions over the years have helped to build a strong foundation for the company," said Dr. Cowpland. "Their dedication and commitment have been felt throughout the company and we wish them both future success." Although Corel is currently in a quiet period prior to the release of its fiscal 2000 second quarter results, scheduled the week of June 19, the company wishes to state that the departures of Ms. Gibson and Mr. Smith are not related to any performance or financial-related issues. Ms. Gibson originally gave her notice in April 2000 and agreed to remain at Corel to assist in the preparation of a cost-savings plan that will align the company for future growth. Since joining the company in 1990, Sandra Gibson has seen Corel through numerous changes in product line and structure. Her leadership in the human resources department has made a positive impact on the quality of employee life at Corel. "After 10 years at Corel, the decision to leave is obviously not an easy one," said Ms. Gibson. "I've enjoyed the opportunities and challenges over these many years and now look forward to turning my attention to home and family." Eric Smith joined Corel in 1996. In his most recent position, he led Corel's legal team, overseeing a wide range of legal matters, including intellectual property, licensing, acquisitions and the Internet. In 1998, he was appointed corporate secretary by Corel's board of directors. "I've had a very exciting four years at Corel and have benefitted both professionally and personally from the experience," said Mr. Smith. "Now it's time to move on and seek out new opportunities that lie ahead." Mr. Smith's resignation is effective June 16. He has not announced his future intentions. Ms. Gibson will be departing at the end of June. Corel Corporation Corel Corporation is an internationally recognized developer of award-winning business productivity, graphics and operating system solutions on the Windows(R), Linux(R), UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). (R), Macintosh(R) and Java(TM) platforms. Corel also develops market-leading, Web-based solutions including applications, contents, e-commerce and online services. For access to these services and more information go to www.corel.com or www.corelcity.com. Corel is headquartered in Ottawa, Canada. Corel's common stock trades on the NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (SM) under the symbol CARL and on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol COR. Corel and the Go further logo are trademarks or registered trademarks of Corel Corporation or Corel Corporation Limited. Linux is a registered trademark of Linus Torvalds. All other products, fonts, company names and logos are trademarks or registered trademarks of their respective owners. This press release contains statements that are forward looking as that term is defined by the United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. Readers are referred to Corel's most recent reports filed with the Securities and Exchange Commission. |
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