GENCO names Robert R. Auray, Jr. as President and CEO of GENCO Marketplace
GENCO Marketplace well positioned to capture increasing share of fast growing asset liquidation niche. PITTSBURGH, Pa. - October 3, 2006 - GENCO today announced that Robert R. Auray, Jr. has been named president and chief executive officer of its subsidiary, GENCO Marketplace, which markets and liquidates customers' surplus inventory to maximize the financial return on their assets. Mr. Auray will be responsible for increasing GENCO's position in the liquidation market and leading business activities, including strategy and business development as well as operations management. He will also work as a member of GENCO's senior management team to identify and develop integrated service offerings and markets that leverage GENCO's core solutions.
With 26 years of executive management experience, Mr. Auray has proven success in leading high performance teams in developing and executing strategic plans and successful acquisitions, which generate significant increases in shareholder value. Just prior to joining GENCO, Mr. Auray was founder and chief executive officer of AFH Logistics Solutions where he worked in conjunction with a major private equity firm to identify opportunities to acquire and build a leading value-added logistics solutions company. He believes he has found that opportunity in GENCO Marketplace. Prior to AFH, Mr. Auray served as president and chief executive officer of Contract Logistics - North America at Swiss-based Kuehne & Nagel Logistics, a global contract logistics company, following its purchase of USCO Logistics. During his tenure as president and chief executive officer at USCO, he led 3,500 employees at 70 locations throughout the U.S., Canada and Mexico, growing annual revenue from $85 to more than $300 million before successfully leading the company's sale and integration with Kuehne & Nagel. Prior to that, Mr. Auray served in a variety of roles, including executive vice president, chief operating officer and chief financial officer for Entex Information Services, Inc., a privately held PC systems integration company, with 6,000 employees and 60 North American offices. With annual revenues of $2 billion, the company sold products and on-site services to major corporations, such as Microsoft, Intel, Coca-Cola, GTE and Boeing. Herb Shear, president and chief executive officer of GENCO, said, "Bob is a very strong leader with market development, acquisitions, finance and operational skills. He is the right person to lead GENCO Marketplace to the next level and is an excellent addition to GENCO's senior management team. Bob's keen eye for developing market opportunities and integrated solutions for key accounts will play a significant role in helping GENCO achieve its growth objectives." Mr. Auray holds an AB in Economics from Princeton University, a MS in Accounting and MBA in Accounting and Finance from New York University. A certified logistics professional, he is the immediate past chairman of IWLA and a certified public accountant. GENCO is a recognized leader in supply chain management serving a diverse range of manufacturing, retail and government customers globally. The company provides a complete range of value-added supply chain solutions, including contract warehousing, reverse logistics, pharmaceutical returns, asset recovery, transportation management, supply chain analysis, parcel management, damage research and government logistics.
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