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Deltek CEO steps down

After 7 years and lots of growth, Parker announces resignation

Just over a month after finding a buyer and taking his company private in a $1.1 billion deal, Deltek CEO Kevin Parker is walking away.

He announced his resignation, effective Dec. 7, after leading the company for seven years.

During his time at the company, revenue tripled and took the company public. The company also went on an acquisition spree acquiring other firms to build out its accounting and project management software as well as adding market research capabilities.

When Deltek's largest investor, the private equity firm New Mountain Capital wanted to cash out its position, Parker found a buyer, the private equity group Thoma Bravo. That deal took Deltek off the public market.

The company has named Executive Vice President and Chief Financial Officer Mike Corkery as acting CEO.

“During the last seven years, I have had the enormous privilege of leading Deltek, a company that is one of the fastest-growing and most successful technology companies in the world,” Kevin Parker said in a statement.

He described Corkery as an outstanding leader “who was instrumental in helping the company grow and become more profitable over the past several years.”

Corkery joined Deltek in January 2010. He previously was CFO and acting CEO for ICO Global Communications. He also was CFO of the Current Group and vice president of operations finance at Nextel Communications.


 

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

Reader Comments

Tue, Dec 4, 2012

Maybe now they (Deltek) will adopt a more reasonable travel policy based on GSA rates and trash the existing $50/day stranglehold.

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