David M. Binns – President & CEO

A member of the Macfadden Board of Directors since 2006, Mr. Binns previously served as the Company’s Chief Operating Officer. He is responsible for strategic planning and managing overall executive operations. Prior to joining Macfadden, Mr. Binns served for 17 years as Associate Director of the Beyster Institute, where he provided strategic advice to numerous U.S. companies on the use of equity incentive compensation plans to promote corporate growth and strategic restructuring. He also managed many of the Institute’s international economic development programs. A recognized authority on the design and implementation of equity compensation plans and economic development, his consulting experience includes work in over 20 countries worldwide. From 1984-1991 Mr. Binns served as Executive Director of The ESOP Association, the national trade association representing the interests of companies with Employee Stock Ownership Plans (ESOPs) and professionals providing advisory services to ESOP companies.

A graduate of the University of Virginia, Mr. Binns also serves as a board member of Pro Finishes PLUS, an employee-owned company, and as a trustee of the Foundation for Enterprise Development, a non-profit organization promoting broad-based participatory ownership, entrepreneurship and innovation.

The Honorable Frederick F. Y. Pang

A retired colonel in the U.S. Air Force, Mr. Pang has held a variety of public service positions following a distinguished 27-year military career. He began his public service career as a professional staff member of the U.S. Senate Committee on Armed Services.

In 1993, President Clinton appointed Mr. Pang as the Assistant Secretary of the Navy for Manpower and Reserve Affairs. In this role, he managed personnel, reserve, and medical programs for the U.S. Navy and the U.S. Marine Corps. Subsequently, Mr. Pang was appointed to serve as the Assistant Secretary of Defense for Force Management Policy where he had Defense-wide responsibility for military and civilian manpower and personnel policies and programs. Mr. Pang also served in a dual capacity as the Principal Deputy Under Secretary of Defense for Personnel and Readiness.

An accomplished business leader, Mr. Pang founded ViStar Corporation, a professional services firm that provided support to Federal Government clients including the Coalition Provisional Authority, the Office of Assistant Secretary of Defense for Homeland Defense, the Office of J-1 on the Joint Staff, the Office of the Deputy Chief of Staff of the Army for Operations, and the Human Resources Office of the State Department. After selling ViStar in 2005, Mr. Pang continued to serve in a transitional leadership role until 2007.

Mr. Pang’s military and civilian awards include the Bronze Star Medal; the Defense Meritorious Service Medal (awarded twice); the Defense Superior Service Medal; the Defense Outstanding Public Service Medal; the Navy Distinguished Public Service Medal; the Selective Service Distinguished Public Service Medal and the Defense Distinguished Public Service Medal.

Mr. Pang received his Bachelor’s degree and M.B.A. from the University of Hawaii. He is a Director on the Board of the Pentagon Federal Credit Union (PFCU) as well as the PFCU Foundation, and serves as a senior advisor to a number of companies in the private sector.

Ronald W. Torrence

A member of Macfadden’s Board of Directors since 2006, Mr. Torrence has more than 45 years of financial management experience. He designed a comprehensive system of analyzing and evaluating corporate loans for a large commercial bank; conceived, developed and implemented the first formal financial planning system for a major transportation company; and assisted many businesses with mergers and acquisitions. For more than 40 years, Mr. Torrence has advised hundreds of small to mid-sized businesses from a variety of industries in management, finance and marketing. He has raised millions of dollars in commercial bank loans, venture capital, mezzanine and other types of financing.

Mr. Torrence assists Macfadden with the development of growth strategies and strategic financial plans. An expert in small business management best practices, he is a frequent speaker and has authored a critically acclaimed book, an award-winning video tape and numerous articles focused on small business management. In 2003, he was named the Financial Services Small Business Advocate of the Year by the Washington Metro Area Small Business Administration. Mr. Torrence graduated with distinction from Pennsylvania State University and holds an M.B.A. from Harvard Business School.


Colleen Gilmore – Vice President and Chief Financial Officer

Ms. Gilmore administers the accounting and financial functions at Macfadden’s corporate office. A skilled financial manager, she has more than 25 years of experience leading the financial functions of government contractors. With a proven ability to implement financial systems which reduce costs and increase staff efficiency, Ms. Gilmore successfully merged multiple financial, timekeeping and 401(k) plans as Macfadden expanded its business through acquisitions and the formation of a subsidiary company. She has extensive expertise directing the preparation and analysis of various financial reports which summarize financial position and comparison to budgets and forecasts in addition to the design and implementation of 401(k) plans.

Prior to joining Macfadden, Ms. Gilmore served as Controller at World Computer Services, Inc. and as Chief Accounting Officer at National Capital Systems, Inc. She holds a B.S. in Accounting and Management from the University of Dayton.

Patrice Sullivan – Director, Contracts and Pricing

Ms. Sullivan serves as Director of Contracts and Pricing, leading Macfadden’s efforts in contracts administration, compliance and bid pricing.  Ms. Sullivan ensures Macfadden complies with Federal Acquisition Regulation (FAR) requirements and negotiates all contracts and agreements, including all GSA schedules.  Ms. Sullivan also helps to ensurethat Macfadden’s proposal bids are priced competitively.

Ms. Sullivan brings more than 25 years of federal contracting experience to Macfadden, including work in both the public and private sector. She began her career with the Department of Defense, serving in the Program office as a Contracting Officer’s Representative (COR) and as a Program Analyst and Manager. Ms. Sullivan has also managed multi-billion dollar contracts while working for Apptis (later URS) as a Senior Contracts Administrator. In this capacity, she maintained the multi-billion dollar DISA Global Services Network (DGS) contract, the Securities and Exchange Commission Alliant Contract. With experience in managing multiple contracts for the U.S Agency for International Development (USAID) and Department of State, Ms. Sullivan is well versed in the development field.  She has successfully negotiated hundreds of International Subcontract Agreements, Leases and Purchase Agreements with Local Host Country and Third Country National consultants and vendors and has experience in establishing international offices in more than five countries worldwide.

Ms. Sullivan holds a Bachelor of Science degree in Business from Old Dominion University and a Master’s Certificate in Government Contracting from George Washington University.