David C. Cole (born September 24, 1952) is an entrepreneur and philanthropist. He first became successful in the publishing, communications, software, online services, and consumer products industries. Then he organized several efforts for local agriculture.
Biography
Cole grew up in Kailua, Hawaii and graduated with a Liberal Arts Degree from the University of Hawaii at Manoa in 1975.[1] In 1997, the university honored him with the UH Distinguished Alumni Award and in 2004 with an honorary doctorate degree.[2]
From 1976 through 1980 he held a variety of positions, starting with selling Prentice-Hall textbooks, rising to become manager of a consulting firm serving emerging software companies.
From 1981 through 1984 he was chairman, president and chief executive officer of software company Ashton-Tate.
From 1985 through 1987 he was president of Ziff Communications, part of the Ziff Davis Publishing Group.
Since the 1980s Cole invested in early-stage technology companies, including Macromedia, Shiva Corporation (acquired by Intel Corporation), and Tops, Inc. (acquired by Sun Microsystems Inc.).
In 1993 Cole became chairman, president and chief executive officer of NaviSoft, an Internet-based software provider.
When NaviSoft was acquired by America Online in 1994, Cole became an AOL officer. At America Online, Cole initially was president of AOL’s Internet Services Company then president of AOL New Enterprises group. He held operating responsibility for AOL International, AOL Enterprises, Digital City and AOL corporate development.
Agriculture
In 1996, Cole bought 425-acre (1.72 km2) farm called Sunnyside Farms in Rappahannock County, Virginia. Upon leaving America Online in 1997, he focused on organic farming. He worked to remove diseased trees, restore the soil, install an irrigation system and gain organic certification for Sunnyside Farms, which became a major retailer and supplier of premium organic meats and produce in mid-Atlantic markets. Since 1997, Cole has been president of Aquaterra, Inc., an investment management firm that serves as managing general partner for Pan Pacific Ventures and Catalyst II, partnerships with interests in software, real estate, agriculture, retailing, and consumer products.
He sold Sunnyside in 2006.
Cole was reported as the second highest paid executive in Hawaii for 2007, despite missing five of seven performance goals.[5]
On June 11, 2008, Kamehameha Day, he rang the closing bell of the New York Stock Exchange to celebrate MLP's move from AMEX.[6]Lehman Brothers, who had provided the financing for the Kapalua expansion, declared bankruptcy in September.
After losses through 2008, Cole was replaced as of January 1, 2009.[7]
The Kapalua loan was in default, and finally was foreclosed in 2010.[8]
Cole served on The Nature Conservancy's national Board of Governors from 1991 through 2000[11] and its Asia-Pacific Council since its inception. In 2004 he was elected chairman of The Nature Conservancy of Hawaii. Cole served on the Hawaii Board from 1988 to 2000.