Former US Consul General Gregory Slayton has been appointed chief executive officer of Canadian software company NRX Global Inc.

His arrival coincides with the injection of new capital into the Toronto-based firm from Michael DeGroote Snr., who has a home in Bermuda, and his fellow Canadian billionaire entrepreneur Ron Joyce.

Mr. Slayton was America's top diplomat in Bermuda from 2005 until August this year, serving under the administrations of both George W. Bush and Barack Obama.

NRX specialises in the asset information management (AIM) segment of the enterprise software industry.

"It is an exciting time at NRX, with the company focused on growing its leadership position in the Asset Information Management market," Mr. Slayton said in a statement issued by NRX yesterday.

"The fact that two of Canada's most respected business leaders have decided to back NRX Global Inc. is further endorsement of the major market opportunity before us.

"We could not ask for better equity partners than Michael DeGroote and Ron Joyce. Now it is up to us, the management and staff of NRX Global Inc., in conjunction with our partners world-wide, to make this opportunity reality."

Before becoming his appointment as US Consul General in Bermuda, Mr. Slayton spent 12 years in Silicon Valley as a CEO and venture capitalist. As an investor and adviser, Mr. Slayton served on the board of advisers of Google and other high tech leaders.

As CEO, Mr. Slayton turned around a number of well known tech companies, including MySoftware (the ninth best performing stock on US capital markets in 1999).

Mr. Slayton's turnaround work is the subject of a number of Harvard Business School case studies and Wall Street Journal features. Mr. Slayton is himself an honours graduate of both HBS and Dartmouth College and a former consultant with McKinsey and Company.

Mr. DeGroote, who was born in Hamilton, Ontario, dropped out of school in the ninth grade to work as a tobacco picker. He went on to become hugely wealthy through his success in the trucking and waste management businesses.

He hit the headlines in Bermuda when he was involved in a bitter court battle with Bermuda resident and heiress Marion MacMillan over the sale of Perot's Island in Southampton in 1993.

Mr. DeGroote eventually gave up on his bid to buy the island for $8.5 million saying he was fed up with the court system.

Mr. Joyce was co-founder of Tim Horton's and one of Canada's most successful entrepreneurs. Both Mr. Slayton and Mr. DeGroote will join the NRX board of directors.