Rentrak Closes Chicago Office of 3PF Subsidiary24 Apr, 2001 By: Hive News
Rentrak Corporation on Tuesday announced the closing of the Chicago offices of its third-party fulfillment subsidiary, 3PF Inc.
3PF provides fulfillment, order processing, inventory management and sales tracking information services to companies requiring around-the-clock fulfillment. In its fiscal year ended Dec. 31, 2000, 3PF produced revenues of $20 million, up 81.5% over the previous year.
"With the core of 3PF's operations in Ohio, the company decided toconsolidate its Chicago offices on the grounds of its primary distribution center," said Paul Rosenbaum, Rentrak's chairman and c.e.o. "We appreciate the work that the management group in Chicago performed, and we believe the officeconsolidation will further improve customer service, provide operationalefficiencies and hasten 3PF's primary goal to be a profitable enterprise."
The Chicago office housed five employees.
William J. Polich, 3PF'sformer chairman, president and c.e.o., declined to moveto Ohio and is leaving the company.
George Kuper, a member of Rentrak's board of directors, will assume operational management responsibility for 3PF as c.o.o. In addition to entrepreneurial ventures, Kuper's background includes management of productivityimprovement programs at General Electric and the turnaround of the Industrial Technology Institute, an applied research company formanufacturing technologies.
Kuper has long been a leader in the national effort to establish a productivity growth policy. In 1975he was nominated by President Ford to serve as executive director of the newly created National Center for Productivity and Quality of Working Life. He has spent the last six years as a management and policyconsultant in the chemical, electronics and software industries on operational, environmental and energyissues.
Kuper is a graduate of Johns Hopkins University and holds graduate degrees from the London School of Economics (International Law) andHarvard Business School (Business Administration).
"I am very pleased to step in to provide operational leadership for this very high potential business unit," Kuper said. "We expect 3PF tocontinue to grow its revenues at a very rapid pace and to aggressively pursue new business from its unified Ohio headquarters.
"We expect the closing of the Chicago office to favorably impact employees at 3PF's distribution centers in Ohio."
In addition to his current responsibilities, Kuper added, Ed Barnick, executive v.p. of distribution for 3PF in Ohio, will immediately assume responsibility for sales and marketing. Financialfunctions previously provided from the Chicago office will be assumed by Mark Thoenes, Rentrak's c.f.o., and the corporate finance staff.
Rosenbaum will immediately assume the additional role of chairman, president and c.e.o. of 3PF. In addition to Rosenbaum, Kuper has been elected to the 3PF board, joining Andre Iseli, c.o.o. of Iseli & Iseli Associates, and Ralph R. Shaw, general partner of Shaw Venture Partners, who continue as directors.
"The moves that we have made provide our fast-growing Ohio 3PF operations direct access to Rentrak's management, which we believe willbenefit both the short-term expense picture at 3PF and the subsidiary's long-term growth potential," Rosenbaum said. "These actionsdemonstrate Rentrak's new board of directors' commitment to buildingshareowner value by maximizing the potential of Rentrak and itssubsidiaries."