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BurnLounge Appoints New CEO
By Mi2N
(more articles from this author)
2007-07-17
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BurnLounge, the world's first fan driven digital download community, announced that it has accepted the resignation of Alex Arnold as the company's chief executive officer and from its Board of Directors. At the same time the company is pleased to announce the appointment of Grant D. Johnson as CEO.

Co-founders Ryan Dadd and Stephen Murray nominated Grant Johnson and the board unanimously approved the nomination.

"This change in management is a first step towards a reinforced focus on building the entertainment company we've always envisioned," said Stephen Murray, co-founder, president of entertainment and chief creative officer, BurnLounge. "We're entering a critical growth period for the company and we believe we have the right team in place to fuel this next evolution of the business to benefit our employees, artists, partners, and independent retailers."

As a current board member and investor, Johnson has a vested interest in the company and brings extensive investment experience and relationships within the entertainment arena. He has spent over 15 years in the investment world and is one of the founding managing partners of Benevolent Capital, a hedge fund specializing in investment of funds into both the public and private market. Johnson also owns legendary music label, Tomato Records. In his new role at the helm of BurnLounge, Johnson is tasked with helping the company chart its next phase of growth and build investment.

"Grant coming on board is a great indication of our investors' support and reinforces the capital commitment behind the company," said Ryan Dadd, co-founder, president and chief operating officer, BurnLounge. "Grant is absolutely the right addition to our team and will only strengthen our position and ability to expand this entertainment company into new markets."

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