Douglas B. Hunt Resigns as President of Systonetics

Systonetics Inc. said its president and chief executive, Douglas B. Hunt, has resigned “to pursue other business opportunities.”

Systonetics said Allena F. Lu, vice president of technical services, will assume Hunt’s position on an acting basis. Lu joined the company in October, 1984, as manager of the programming department.

Hunt has been president of the Fullerton computer software company for two years--a period of continued financial losses for the firm. Last April, Systonetics agreed to sell 36% of its stock to a group of Singapore investors for $600,000 in an effort to reduce the company’s debt and raise new capital.

Hunt, who will continue to serve as a director of the company, was unavailable for comment Tuesday.

Hunt’s resignation was voluntary, said David W. Larsen, Systonetics’ chief financial officer. “To the best of my knowledge, he was not asked to leave,” he said.

Hunt had served as president and chief executive since June, 1986. He had joined the company in May, 1985, as vice president of sales.

For the nine months ended last Nov. 30, Systonetics lost $324,000 on revenue of $4.4 million, compared to a year-earlier loss of $847,000 on revenue of $4.8 million.

Systonetics develops project management software for computers and has more than 800 systems installed worldwide.