Business-to-business e-commerce company WorldWide Retail Exchange says it has picked European manufacturing industry veteran Colin Dyer as its chief executive.
Beginning Friday, Dyer, 47, will take charge of the electronic marketplace, which is designed to help lower costs for retailers and their suppliers by providing tools to conduct transactions, merchandise auctions, and order-tracking online.
Dyer joins WorldWide from British firm Courtaulds Textiles, where he served most recently as the company's chief executive. Courtaulds Textiles is an international clothing and fabric company operating in 17 countries and employing more than 20,000 people.
Founded in March, WorldWide facilitates trading between retailers and more than 100,000 suppliers, partners and distributors. The site is currently handling private auctions for individual customers but is expected to start delivering more services in coming weeks, the company said.
Dyer will also serve on WorldWide's board.
Earlier this month, five retailers--Kesko, Longs Drugs, Publix Super Markets, Seibu Department Stores Ltd. and Woolworths-announced plans to join WorldWide's exchange.