Rusty Braziel, the founder of electronic trader Altra EnergyTechnologies Inc. based in Houston, stepped down as chairmanyesterday to oversee the launch of his new e-markets consulting andsoftware company, Netrana. Although Braziel will remain on Altra’sboard of directors, CEO Paul Bourke assumes the chairman’s role andwill now set growth and operating strategies.

“Altra is a proven company run by a seasoned management team,”said Bourke, who was hand picked by the board two years ago.”Rusty’s departure is an emotional loss, but he is leaving at thetime when the company has experienced record growth and ispositioned to achieve profitability early in 2001.”

Altra, founded in 1996, posted its best year ever in 2000, comingoff record revenue earnings, which were up 20% from the previous year(see Daily GPI, Jan. 31). It alsodiversified last year, creating an e-business solutions subsidiaryfocused on Web integration services. It will launch a messaging-based,next-generation transaction management product this year.

“While I am giving up the chairman’s role and its relatedresponsibilities, I will remain active at the board level,” saidBraziel. “As a substantial stakeholder, Altra’s continued successis important to me. I look forward to pursuing joint businessopportunities together at the appropriate time in the future.”

As CEO of Houston-based Netrana, which was launched in January,Braziel and his team will offer collaboration software, liquiditybuilding activities and e-markets consulting services to developliquid electronic markets or to transform existing markets forvertical industries, B2B exchanges and market intermediaries.

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