Exclusive: Founder Gill exits Quark

Chairman sells holdings and goes off to run charitable organisation and promote gay and lesbian rights

After months of speculation that his departure was imminent, Quark founder, chairman and chief technology officer Tim Gill has reportedly told the staff of the publishing software powerhouse that he has sold his holdings in Quark to concentrate on philanthropic pursuits.

"You can't take it with you," Gill wrote in a memo sources said was circulated to the staff of the Denver developer. "And giving it away has been consuming more and more of my time.

"So this is to let you know that I recently sold my holdings in Quark. And over the next several years I'll be moving most of those assets to the Gill Foundation," a charitable organisation that Gill founded in 1994 to promote justice and equality "while building awareness of the contributions gay men and lesbians make to American society".

The memo did not specify who purchased Gill's share of the privately held company, ownership of which had been evenly divided between Gill and Quark chief executive Fred Ebrahimi.

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