|Loren Burnett is a senior executive with over 25 years of management experience. Prior to joining Astral Brands in August 2004, Mr. Burnett served as the President, Chief Executive Officer and Chairman of the Board of Celcorp, a provider of enterprise integration software and services. During his tenure at Celcorp, he led the migration of the company from being a Canadian based software development company to a U.S. based, internationally recognized enterprise software provider serving Fortune 1000 companies.
Mr. Burnett served as Senior Vice President and Chief Financial Officer of Riptech, Inc., a leading provider of managed security services. He completed a $21 million round of equity and debt financing in September 2001, and was instrumental in the sale of the firm to Symantec, Inc. for $145 million cash in August 2002. Shareholder profits from this transaction exceeded $100 million. Additionally, Mr. Burnett managed the acquisition of three competitors in 2001-2002.
Mr. Burnett is an experienced entrepreneur, having Co-Founded FutureNext Consulting in 1998 where he served as its Chief Operating Officer. FutureNext was a provider of e-supply-chain consulting and implementation services. During his tenure at FutureNext, the company raised over $110 million of equity and debt financing. FutureNext’s annualized revenues grew to over $72 million by early 2000. Mr. Burnett was responsible for services delivery from eleven practices and managed 450 of the company’s 500 employees. Under Mr. Burnett’s leadership, FutureNext acquired and integrated six companies over a nine-month period.
Mr. Burnett served as Senior Vice President, Chief Financial Officer and member of the board of directors of The Hunter Group. Hunter was an $80 million provider of system implementation, management consulting and educational services associated with enterprise resource planning (ERP) software. Mr. Burnett led Hunter’s $56 million Initial Public Offering in 1997. Renaissance Worldwide, Inc. acquired Hunter in a pooling-of-interests transaction resulting in profits to Hunter’s shareholders in excess of $150 million.
Mr. Burnett served as Chief Financial Officer of Maxm Systems Corp., a provider of enterprise computer software to Fortune 1000 clients. He led Maxm’s successful efforts to raise over $28 million of venture capital equity in seven separate rounds. Mr. Burnett led the acquisition of a multi-national competitor. He established and managed subsidiaries in the U.K., Canada, Germany and Italy. Mr. Burnett served as the “acting” Vice President of International Sales and Distribution, where he negotiated distribution agreements covering 43 countries from Asia-Pacific to Europe. He led the successful sale of the company in 1996.
Mr. Burnett held senior management positions with MCI, Coopers and Lybrand and NTS. He is a Certified Public Accountant in the State of Virginia and has held a Bachelor of Science in Business Administration and Accounting from the University of Delaware since 1979. Mr. Burnett serves on the board of directors and is the Treasurer of The Make-A-Wish Foundation of the Mid-Atlantic.