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Edward G. Broenniman
Managing Director
The Piedmont Group
Mr. Broenniman has over 25 years of successful management and executive experience with Fortune 50 companies and high-tech public and privately held growth firms and has a proven track record of increasing profitability, containing costs, and accelerating growth opportunities. He has extensive experience as a CEO/COO, Board Member, and Corporate Advisor, in building profitable companies and managing turnarounds. His expertise is taking middle market and emerging firms with significant market potential and focusing them on what the management must do to increase profitability and stockholder value. He is the Managing Director of The Piedmont Group which he founded in 1978.
His track record includes many successes:
- He built a highly profitable $28 million modem firm as President and CEO, and then sold it to Penril, Inc., an American Stock Exchange Company.
- At Jolynne, Inc., a $25 million computer service company, Mr. Broenniman was brought in as COO to develop the firm for sale. He implemented a market positioning strategy that directly led to the sale of the Company to Bell Atlantic, a New York Stock Exchange Company.
- At Vycor, a software company, he organized and led an investment group that brought in a new management team and transitioned the Company from a government contractor into a successful commercial company. With sales at $15 million, Mr. Broenniman structured the sale of the Company to Network Associates (McAfee), listed on the NASDAQ.
- As CEO, he turned an under performing $35 million manufacturing company into a technology based world class competitor and increased operating margins, reduced working capital requirements by $2.5 million and lead an acquisition program that boosted sales 25%.
- As CEO of a $30 million manufacturing company, he developed and implemented a major workout strategy, turning a $600,000 loss into a $1 million profit in 12 months.
- He has raised over $50 million of capital for software, hardware, system engineering, medical technology, and service firms.
Mr. Broenniman serves on two public Boards: MediaWorx, Inc. (MEWX) and Aethlon Medical (AEMD) and served on the Board of QuesTech (QSED; Rev. $100M acquired by CACI International), and is Chairman of a privately held technology company. He was the first Entrepreneur in Residence at the Dingman Center for Entrepreneurship (University of Maryland). His nonprofit Boards include the Washington Chapter, National Association of Corporate Directors, the National Capital Chapter, Association for Corporate Growth, and the Dingman Center. Mr. Broenniman has an MBA from Stanford University and a BA from Yale University. He is a member of the Economic Club of Washington.
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