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July 8, 1997updated 05 Sep 2016 12:18pm

TROUBLED SOFTQUAD SHEDS MANAGEMENT

By CBR Staff Writer

If you had news you wanted to shout from the rooftops, you probably wouldn’t choose to announce it on July 4th lest just about everyone in the US miss it. If, however, you had recently announced first quarter losses of $8m, up from losses of $1m last year, and both your chief operating officer and your chief financial officer had just left the company, you might well hope such news would be lost among the fireworks. Canadian Internet software firm Softquad International Inc announced on Friday that its chief operating officer Michael Cooperman has gone to join XDL Capital Corp, and chief financial officer, Selwyn Wener, has left to pursue other interests. Sales of the company’s HotMetal Pro Web site development tool, which enables non-technical users to create Web sites, seem to be thriving, with first quarter turnover up 86.5% to $5.4m, so it seems the problem is perhaps more management than technical.

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