Wholesale disrupter continues growth
The Australian start-up – which has hit the milestone of servicing over 350 independent retail stores in October – says it is disrupting the traditional supply chain as implemented by the likes of Metcash, by enabling suppliers and independent retailers to trade directly with each other.
After forming in late 2015 in the Melbourne suburb of Richmond and clinching a partnership with global logistics firm DHL in 2016, Irexchange has spent the best part of two years formulating a tech platform to service the independent retail food and liquor space.
The company has been trading since the start of this year, with its ‘open sourcing’ model offering independent retailers control over the range of products and services they stock through a portal.
Former vice president Reckitt Benckiser and Cadbury Schweppes, Nestle and Metcash executive Andrew Clark has now been appointed as CEO FMCG, to lead the day-to-day operations of the business.
Corey Montry has been installed as chief financial officer for the startup. Montry is a senior finance and accounting professional and held several roles across several industries including as group financial controller, Metcash Trading, Melbourne Health and group controller, General Motors Holden.
“Irexchange commenced trading in January this year and inside the first ten months has received strong support from the market,” said CEO Clive Yoxall, Irexchange.
“As we accelerate execution, we recognise the need to introduce new skills and capabilities to facilitate the next evolution of our growth. The board and executive appointments provide enormous skills and capabilities that will help ensure we continue to evolve and grow the business.”
“Further board appointments are also planned for early 2018,” he added.
Andrew Reeves, a former chief executive of George Weston Foods; managing director at Lion Ltd ;and Coca-Cola Amatil, has been appointed non-executive director and chairman elect.
Reeves currently serves on the boards of Oz Harvest, The Healthy Grain and Credit Union Australia.
Experienced FMCG executive Suzanne Douglas has been made a non-executive director. Douglas has previously held high profile leadership roles including as managing director, H.J. Heinz Australia, general manager, McPherson’s Consumer Products, and general manager marketing innovation and special projects, Devondale Goulburn.
Ex-chief financial officeer at SEEK Limited, John Armstrong has been appointed as a non-executive director. Armstrong has over 25 years’ experience in various financial and commercial management roles including management roles at Carlton & United Breweries and commenced his career at Ernst & Young. He is currebtky a non-executive director of Blackmores Limited and Melbourne IT Limited.
Irexchange said the appointments reflect the company’s continued growth and expansion in Australia.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
Inside Retail Polls
Partnership to improve Pharmacy 4 Less delivery times for customers in China, as well as provide a superior shoppin… https://t.co/S9EAogH6IM6 hours ago
Rachel Shafner alleges she was let go after applying for flexible work arrangements to pick up her children from sc… https://t.co/cgHVkWvkMs8 hours ago