That decline is larger than the multichannel retailer’s overall 5.8% sales decline.
Agentrics, a provider of web-based supply chain management and collaboration applications for retailers, has named supply chain veteran Thomas Corbett CEO as it expands consulting services to mid-size retailers and their trading partners.
Agentrics LLC, a provider of web-based supply chain management and collaboration applications for retailers, has named supply chain veteran Thomas Corbett CEO as it expands consulting services to mid-size retailers and their trading partners. He succeeds Christopher Sellers, who will remain in a consulting role during the transition.
Corbett takes over the top job after having led a $50 million investment in Agentrics last month by Brazil-based M. Abuhab Participacoes, or MAP, which now has a controlling stake in Agentrics. At the time, Corbett served as director of mergers and acquisitions for MAP.
Agentrics, which was formed in 2006 as the merger of GNX and the Worldwide Retail Exchange, has its roots in serving the product sourcing and supply chain management and collaboration needs of large retailers like Sears, Roebuck and Co., Best Buy Co. Inc., Walgreen Co., Safeway Inc. and such major European retailers as Tesco, Marks & Spencer and Metro Group.
Based at Agentrics headquarters in Chicago, Corbett will oversee plans to offer additional technology applications and consulting services as Agentrics expands its market to serve mid-size companies doing about $1 billion or more a year in sales, a spokesman says.
“Thomas was instrumental in developing and completing the details of MAP’s investment in Agentrics, and his intimate understanding of the company’s products, customers and operations will enable him to skillfully guide its expansion into additional retail, consumer goods and industrial sectors around the world,” says Miguel Abuhab, the principal shareholder of MAP. “Throughout his career, and most recently during his time with MAP, Thomas has repeatedly demonstrated an ability to bring trading partners closer together and refine supply chain practices in ways that deliver value to all participants.”
MAP’s holdings also include two Brazil-based companies: NeoGrid, a provider of demand and supply chain management applications, and Datasul, a provider of enterprise resource planning software and services. The global operations of Agentrics are expected to help NeoGrid and Datasul expand their market reach, MAP says.
“Agentrics is ideally positioned to extend globally the offerings of our portfolio companies, such as NeoGrid, which have experienced 50% annual growth in Latin American over the past year,” Abuhab says.