8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 5, 2008

COREL CORPORATION

(Exact name of Registrant as specified in its Charter)

CANADA
(State or other Jurisdiction)
of Incorporation) 000-20562
(Commission
File Number) 98-0407194
(IRS Employer
Identification No.)

1600 Carling Avenue
Ottawa, Ontario
Canada
K1Z 8R7
(613) 728-0826
(Address of principal executive offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 5, 2008, Corel Corporation (the “Company”) announced the appointment of Kris Hagerman as interim Chief Executive Officer of the Company, effective as of May 8, 2008. Mr. Hagerman’s appointment follows the Company’s April 21, 2008, announcement of the pending departure of current Chief Executive Officer David Dobson. The Company is currently conducting a search for a long-term replacement Chief Executive Officer.

Mr. Hagerman has not served the Company in any capacity prior to his appointment as interim Chief Executive Officer. Most recently, Mr. Hagerman, 44, served as a Senior Advisor at Vector Capital, an indirect holder of 69% of Corel’s outstanding common shares. From 2005 to 2007, Mr. Hagerman served as Senior Vice President of the Storage and Server Management Group of Symantec Corporation (“Symantec”), a provider of infrastructure software, and then as Group President of Symantec’s Data Center Management Group. Prior thereto, he served as Executive Vice President and General Manager of the Storage and Server Management Group for Veritas Software Corporation (“Veritas”), a provider of storage management systems. From 2001 to 2004, Mr. Hagerman held executive positions with Veritas including Vice President of Alliances, Vice President of Strategic Operations, followed by Senior Vice President of Strategic Operations and Executive Vice President of Strategic Operations. Mr. Hagerman received his MBA from Stanford University.

There are no arrangements between Mr. Hagerman and any other person pursuant to which Mr. Hagerman was selected as interim Chief Executive Officer, nor are there any transactions to which the Company was or is a participant and in which Mr. Hagerman has a material interest subject to disclosure under Item 404(a) of Regulation S-K.

Mr. Hagerman has no family relationship with any director or executive officer which would otherwise be subject to disclosure under this Item 5.02.

Item 9.01 Financial Statements and Exhibits.

     The following exhibits are filed with this Form 8-K:

Exhibit	Description
99.1	Press Release dated May 5, 2008.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 5, 2008

COREL CORPORATION
By:	/s/ CHRISTOPHER DIFRANCESCO
	Name:	Christopher DiFrancesco
	Title:	Senior Vice President, Legal, General Counsel and Secretary

EXHIBIT INDEX

Exhibit	Description
99.1	Press release dated May 5, 2008.

EX-99.1

Exhibit 99.1

For Immediate Release

Corel Corporation Appoints Kris Hagerman as
Interim Chief Executive Officer

OTTAWA, Canada — May 5, 2008 — Corel Corporation (NASDAQ:CREL) (TSX:CRE) today announced that Kris Hagerman, formerly Group President of Symantec’s Data Center Management Group, has been appointed as Corel’s interim Chief Executive Officer, effective May 8, 2008. Hagerman’s appointment follows Corel’s announcement on April 21, 2008, that current CEO David Dobson will be leaving the Company in order to accept a senior executive position at a Fortune 500 company. During the transition period, Dobson will remain a Director on Corel’s Board and assist in evaluating the strategic alternatives available to the Company, including the previously announced proposal by Vector Capital.

An experienced industry executive, Hagerman most recently served as a Senior Advisor at Vector Capital. Prior to that, Hagerman was Group President of Symantec’s Data Center Management group, which generated $1.7 billion in revenue or approximately 30% of Symantec’s 2007 revenue. Prior to Symantec, Hagerman held senior positions with Veritas Software Corporation, including Executive Vice President and General Manager of the Storage and Server Management Group. Prior to Veritas, Hagerman was founder and CEO of two consumer Internet companies, and also served in positions at Silicon Graphics and McKinsey & Company, Inc.

“We are very pleased to have a proven executive like Kris Hagerman join Corel,” said Alex Slusky, Chairman of Corel’s Board of Directors and Managing Partner of Vector Capital. “Kris’ deep experience and successful track record in software are a great fit for Corel. The Board is confident he will provide strong leadership for the company while we conduct a search for a permanent chief executive.”

“Corel is truly one of the world’s leaders in consumer software,” said Hagerman. “I look forward to working with Corel’s management team and employees to continue the company’s successful trajectory through this transition period.”

For more information on Kris Hagerman, please visit www.corel.com/executivebios.

For more information on Corel, please visit www.corel.com or the Company’s Investor Relations website at http://investor.corel.com .

Forward-Looking Statements:

This news release includes forward-looking statements that are based on certain assumptions and reflect our current expectations. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements to differ materially from any future results, performance, or achievements discussed or implied by such forward-looking statements.

These risks, uncertainties and other important factors are described in Corel’s Annual Report dated February 8, 2008, filed with the Securities and Exchange Commission (SEC) and the Canadian Securities Administrators (CSA) under the caption “Risk Factors” and elsewhere. A copy of the Corel Annual Report and such other filings can be obtained on Corel’s website, on the SEC’s website at http://www.sec.gov./ or on the CSA’s website at http://www.sedar.com.. Forward-looking statements speak only as of the date of the document in which they are made. We disclaim any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in our expectations or any change in events, conditions or circumstances on which the forward-looking statement is based.

About Corel

Corel is a leading developer of graphics, productivity and digital media software with more than 100 million users worldwide. The Company’s product portfolio includes some of the world’s most popular and widely recognized software brands including CorelDRAW® Graphics Suite, Corel® Paint Shop Pro® Photo, Corel® Painter(TM), Corel DESIGNER®, Corel® WordPerfect® Office, WinZip®, WinDVD® and iGrafx®. Designed to help people become more productive and express their creative potential, Corel’s software strives to set a higher standard for value with full-featured products that are easier to learn and use. The industry has responded with hundreds of awards recognizing Corel’s leadership in software innovation, design and value.

Corel’s products are sold in more than 75 countries through a well-established network of international resellers, retailers, original equipment manufacturers, online providers and Corel’s global websites. The Company’s headquarters are located in Ottawa, Canada with major offices in the United States, United Kingdom, Germany, China, Taiwan and Japan. Corel’s stock is traded on the NASDAQ under the symbol CREL and on the TSX under the symbol CRE. www.corel.com

©2008 Corel Corporation. All rights reserved. Corel, Corel DESIGNER, CorelDRAW, Paint Shop Pro, Painter, Photo Express, WinDVD, iGrafx, InterVideo, Ulead, WordPerfect, WinDVD, WinZip and the Corel logo are trademarks or registered trademarks of Corel Corporation and/or its subsidiaries. All other product names and any registered and unregistered trademarks mentioned are used for identification purposes only and remain the exclusive property of their respective owners.

CRELF

Press Contact:
Catherine Hughes
613-728-0826 x1659
catherine.hughes@corel.com

Investor Relations Contact:
The Blueshirt Group
415-217-7722

Todd Friedman
todd@blueshirtgroup.com

Stacie Bosinoff
stacie@blueshirtgroup.com