GWW moves one step closer:
biz.yahoo.com
Monday January 10, 4:01 pm Eastern Time
Company Press Release
SOURCE: W.W. Grainger, Inc.
Grainger Separates its Internet Commerce Businesses; Promotes Executives
To Run Grainger.Com and Orderzone.Com
CHICAGO, Jan. 10 /PRNewswire/ -- As a result of the explosive growth in its Internet Commerce business, W.W. Grainger, Inc. has separated it into three distinct units. James T. Ryan, a nineteen-year veteran of the Company, becomes President of Grainger.com. Daniel Hamburger, previously President of Grainger Internet Commerce, becomes President of OrderZone.com. In addition, the Company has hired Robert S. Wasserman to become Vice President, Grainger Internet Commerce, and to head up the Grainger auction site.
Grainger Group President Donald Bielinski said, ``After growing at the breakneck pace we did in 1999, it became clear that we needed to separate the businesses to continue to provide focus, speed and agility for 2000 and beyond. I am excited about the opportunities these businesses offer Grainger and I am confident that the management talent we have in place in Grainger's digital businesses will allow us to grow still faster.'
Grainger Internet Commerce sales grew by more than 650 percent last year. The run rate for the month of December was $200 million as the business ended just over $100 million for the year. Grainger.com, the original web site, offers customers more than 220,000 different products that Grainger carries-well beyond the 80,000 products in the catalog. OrderZone.com, launched in May 1999, allows small and medium size customers to order from Grainger as well as five other suppliers of electronic parts, lab safety supplies, office supplies, laboratory equipment and supplies and uniforms. Grainger Auction, launched in November, provides customers with discontinued inventory they can buy through an auction process. Because of the different approaches, the Company felt dedicating executives to each specific business proposition would enhance the growth rate. In addition, Grainger launched another web site, FindMRO.com, in November to source products not typically used by a customer. FindMRO is not affected by these moves.
Ryan, 41, has most recently been Vice President, Information Services, for W.W. Grainger, Inc. He joined Grainger in 1980 and has served in product management and as president of Grainger Parts. He is a graduate of Miami University as well as DePaul University, where he received his MBA.
Hamburger, 36, joined Grainger in October 1998 as President, Grainger Internet Commerce. Under Hamburger, the sales have grown from $13.5 million in 1998 to $102 million in 1999. Prior to joining Grainger, Hamburger started and ran the Internet Services Group of Experian/Metromail. He also was a consultant with Andersen Consulting and Bain & Company. Hamburger earned a bachelor's and master's degree in Industrial Engineering from the University of Michigan and an MBA from Harvard Graduate School of Business Administration.
Wasserman, 40, joins Grainger from Ameritech Corporation where he was vice president of marketing for Ameritech's Small Business and Enhanced Business divisions. Prior to Ameritech, he worked at AT&T. Wasserman graduated in 1981 from the University of Michigan with a bachelor's degree in business administration.
W.W. Grainger, Inc. (NYSE: GWW - news), with 1998 sales of $4.3 billion, is the leading North American provider of maintenance, repair and operating (MRO) supplies, services and related information to businesses and institutions. GWW shares are traded on the New York and Chicago stock exchanges. For more information, visit Grainger on-line at www.grainger.com .
SOURCE: W.W. Grainger, Inc. |
