Error in Schema Compare: "System.IO.DirectoryNotFoundException. A part of the path could not be f (4329731)

Trying to start a schema compare between two databases, throws the following Exception:

"Inner Exception: System.IO.DirectoryNotFoundException
Message : A part of the path C:\ProgramData\Application Data\Quest Software\Quest Change Director for SQL Server could not be found."

A folder for Change Director during Schema Compare  is created. It is therefore possible that an account which runs Toad does not have the rights to create this folder.

WORKAROUND:  
Run Toad as an administrator.

STATUS:
Enhancement request ST 43963 has been submitted to Development for consideration in a future release of Toad for SQL Server.