Christa Quarles, the former CEO of OpenTable, has been named CEO of Corel, the Canadian application corporation whose greatest-recognized brand name could be the lengthy in the past phrase-processing plan WordPerfect.
It’s alright if you have only a foggy recollection of Corel. It is a great case in point of how tough it is to get rid of a program corporation. About the yrs it has gone general public and private 2 times. It has performed several acquisitions to consider to bulk up. And now it is owned by personal-fairness store KKR, which purchased it last yr from a further PE business, as PE firms are wont to do.
It is not okay if you really don’t know Quarles. She ran OpenTable, which is section of Scheduling.com. She did a stint at NextDoor, had a operate at Disney (which acquired the gaming business exactly where she was chief fiscal officer at the time), and again in the working day she was a investigate analyst. Oh, and very last 12 months, when we still gathered in particular person for functions, she was the non-editorial co-chair of Fortune’s Brainstorm Tech meeting in Aspen, Colo.
Quarles, who is 46, states she sees an practically “patriotic” chance to promote to the styles of little companies and “pro-sumer” consumers that are Corel’s foundation. “We did this at OpenTable much too,” she states. The organization owns a handful of items that contend comfortably versus or adjacent to program giants. CorelDraw is a significantly less-famous alternate to the Adobe Resourceful Suite. MindManager does information visualization and project management. Parallels is a plan that lets Mac and Chromebook buyers run Windows if they will have to.
The new CEO has a mandate to make acquisitions. She claims she’ll emphasis on guaranteeing the company’s choices in good shape with each other as a platform and building on the desktop collaboration craze. KKR introduced her in, and John Park, the direct investor on the offer, envisions Quarles overseeing “bigger and bolder offers.” By now, he says, the firm has played runner-up on transactions that were several periods its prior deal size.
On a particular notice, I’m in the abnormal place of composing about an executive I’ve been able to look at in action as a substantial-benefit member of a group I support direct. Quarles has a single of the best signal-to-noise ratios I’ve at any time witnessed, equally passionate about her dog as she is about the most recent excitement in company.
Great luck, Christa.
This version of Details Sheet was curated by Aaron Pressman.