Corel Corp has lost its second top executive in as many weeks. It announced Wednesday that vice president and chief financial officer Michael O’Reilly has tendered his resignation. The move follows last week’s departure of Jim Orban, executive vice president of sales and marketing. O’Reilly will remain with the company and continue in his current duties until the search for his replacement is concluded.
O’Reilly, who joined Corel in 1997 after 21 years with KPMG, has yet to announce what his future plans are. He is credited with an integral role in Corel’s recent restructuring and the company’s subsequent return to profitability at the end of last year after a string of quarterly losses. The company’s financial outlook and share price have been on the upswing in the past six months or so, largely due its work with the Linux operating system. It is highly gratifying for me to be able to leave Corel on such solid footing with new opportunities ahead, O’Reilly said in a statement.
