Kevin Parker is leaving Deltek after seven years as CEO on Friday, December 7. Mike Corkery, CFO of the software company, will serve as acting CEO. We were told that the private equity investment firm Thoma Bravo, which bought the company in October, tends to buy companies with management it likes.
But we probably should not be terribly surprised at this move since it occurred less than two months after the deal closed. The announcement did not say that Parker had a new job or that he was leaving to pursue other opportunities, but I would imagine he leaves the now privately held company with a decent check in his hands. The press release was a love fest in which Parker and Corkery applauded each other for their leadership. The acquisition by Bravo was valued at $1.1-billion acquisition. Parker's career in the top spot was book-ended by the fact that he took the company public and then helped take it private.