Mike Burnett is currently the CFO at OfferPad. Mike previously held the position of Executive Vice President and Chief Financial Officer at AV Homes, Inc. from October 2013 to October 2018.
During their time at AV Homes, Mike was responsible for executing a five-year strategic business plan that resulted in revenue growth from $140 million to a run rate of nearly $1 billion. This growth was a result of a combination of organic growth and acquisitions. Mike also acquired and integrated four homebuilding companies with a combined transaction value of over $260 million. Two of these acquisitions increased existing market positions to more effectively leverage the in-place cost structure, and two subsequently expanded our operational footprint and increased the geographic diversification.
Under Mike's leadership, the company reversed the trend of operating losses to one of sustainable profits, expanding operating margins by effectively leveraging our cost base and improving efficiency. Mike also raised over $1.1 billion in aggregate debt capital, including the Company’s debut high yield offering, initial senior credit facility and convertible notes, subsequently refinancing and expanding each to increase liquidity and reduce borrowing costs.
In addition, Mike played a lead role in the evaluation of strategic alternatives that ultimately led to the execution of a process resulting in a $1 billion merger transaction with a strategic buyer.
Mike Burnett has a Bachelor of Science in Accounting from Miami University.
Some of their coworkers include Benjamin Aronovitch - Chief Legal Officer, David Connelly - Chief Growth Officer, and Casey Bair - Chief Acquisitions Officer. Mike Burnett reports to Brian Bair, Founder & CEO. A direct report to Mike Burnett is and James Grout - VP, Finance & Corporate Development.
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