Michael Cowpland
Michael Cowpland | |
|---|---|
| Born | April 23, 1943 Bexhill-on-Sea, United Kingdom |
| Occupation | Entrepreneur |
| Known for | Founder and former president, chairman, and CEO of Corel |
Michael Cowpland (born April 23, 1943, in Bexhill-on-Sea) is a Canadian entrepreneur originally from the United Kingdom. He is known as the founder and former president, chairman, and CEO of the Canadian software company Corel.
Mitel
Cowpland’s professional journey started at Bell Northern Research and MicroSystems International. In 1973, together with Terry Matthews, he co-established Mitel Corporation, focusing on creating electronic PBX systems. The company grew to achieve $250 million in revenue, making both founders wealthy. Nevertheless, rapid expansion led to its purchase by British Telecom, and Cowpland departed in 1984 after conflicts with the new management.
Corel
In 1985, Cowpland launched Cowpland Research Laboratory—later renamed Corel—based in Ottawa. The company initially marketed desktop publishing workstations but gained major recognition with the release of the graphics application CorelDRAW in 1989.
In an effort to compete with Microsoft, Cowpland acquired WordPerfect from Novell in 1996 for $158 million to enter the productivity software arena. Despite this acquisition, Microsoft’s stronghold on pre-installed software limited Corel’s market penetration. The firm also ventured into areas such as CAD, videoconferencing, Java, and Linux, but did not secure significant positions in these sectors.
Between 1999 and 2000, Cowpland was investigated by the Ontario Securities Commission for insider trading allegations after selling $20 million worth of Corel shares prior to the announcement of disappointing earnings. The matter was resolved in 2003 with Cowpland paying a $575,000 settlement. Subsequently, Corel’s stock price climbed to $60 amid the Linux surge when its Desktop Linux product was considered a potential rival to Windows.
Cowpland stepped down as CEO in August 2000. After failing to acquire Borland to bolster Corel’s Linux strategy, he exited the company and took control of ZIM Corporation, a NASDAQ-listed firm specializing in database and mobile content services.
Personal life
Cowpland’s first marriage was to Darlene until their divorce in 1991; they have two daughters named Paula and Christine. In 1992, he married Marlen Cowpland. The couple lives in an $14-million residence spanning 1,800 square meters located in Rockcliffe Park, Ontario.