NetEnterprise Burt Lum, co-founder of Honolulu tech firm NetEnterprise, is stepping down as chief executive.
co-founder
asked to leave
Burt Lum is stepping
down amid efforts to
boost profitabilityBy Tim Ruel
truel@starbulletin.comThe company's revenue dropped in 2002 from 2001, and it started losing money last year. Even though NetEnterprise returned to profitability in November, the company's other two co-founders, James Martin and Jason Toth, wanted to see revenue return faster, Lum said.
Lum said his hope was for revenue to come back by 2004 or 2005, and that wasn't soon enough.
"The shareholders really wanted to move in another direction, and ultimately bring in new players," Lum said.
Benny Mateo, president and founder of Honolulu Internet software firm NxTech Systems, is stepping in as NetEnterprise president and chief executive. Lum will remain with the company for the next six months to help the transition.
Lum has served as president and chief executive since the trio started the company in 1998.
NetEnterprise serves as a data storage center, designs and supports networks for businesses, and provides Internet access. In early 2002, the company took a hit when a major local bank moved its business in-house, Lum said.
"It's been sort of a fun trip on this tech roller coaster, and we've seen the company go from its growth period, and we've weathered the storm through the tech sector crash and the telecom crash and the dot-com implosion, and we've proven we have staying power," Lum said.
He didn't want to leave the company, but he has to go along with the decision of the two other co-founders, Martin and Toth. For now, Lum will remain a shareholder of NetEnterprise.
Lum said he plans to stay in Hawaii, and will be evaluating business opportunities in the next six months.
NetEnterprise
NxTech Systems