ATLANTA, June 8, 2004 (PRIMEZONE) -- NewRoads(r), the leading provider of outsourced fulfillment and customer care solutions for direct-to-customer commerce, today announced the appointment of Henry (Hank) A. Reeves, Jr. as President and Chief Executive Officer. Reeves joins NewRoads from General Electric (GE) where, over a span of 16 years he led four GE business units, and was a Corporate Officer and Vice President of its parent, General Electric Company (NYSE: GE). Most recently, Reeves led GE Plastics Americas, the North and South American commercial business of the $5B global GE Plastics unit.
Reeves brings a long and successful track record of leading service-related businesses to his new role. He was appointed Group President for GE Capital's small ticket equipment leasing business in 1997. Under Reeves' leadership, its four business units more than tripled new business volume and profitability, collectively becoming the largest third-party, small ticket leasing company in the world. After assuming leadership in 2000 for the U.S. component of GE Mortgage Insurance, record growth in market share was achieved while the cost base was reduced by over 30%. Reeves' work on market segmentation methodology, commercial operations, and sales force effectiveness were widely publicized across GE as a global best practice.
Prior to GE, Reeves held numerous senior leadership assignments at Marine Midland Bank and Tokai Bank. In total, he has over 22 years of diverse services and operating leadership experience.
"Hank brings a tremendous growth ethic and results orientation to the outsourced fulfillment industry," said John M. Trani, NewRoads Executive Chairman and retired Chairman and Chief Executive Officer of The Stanley Works. "He has an outstanding track record and has expanded market share in each of his leadership positions. As one of roughly 150 GE officers (out of 340,000 associates), his accomplishments have been broadly recognized. Attracting leaders like Hank to this industry indicates the outstanding opportunity before all of us. We anticipate that NewRoads will continue to lead and, indeed, define the market as it evolves."
"I am thrilled to be joining NewRoads and leading the business at such an exciting time," stated Reeves, "We anticipate significant market growth for outsourced fulfillment and customer care solutions, and NewRoads is very well positioned to take advantage of this growth. We bring a "best-in-class" value proposition and a long history of serving an impressive list of market leaders." Reeves added, "It is great to see the tremendous commitment NewRoads has from its investors and the outstanding board of directors already in place to assist us with our strategic growth initiatives."
About NewRoads
NewRoads provides outsourced solutions in fulfillment and customer care to deliver products, samples and information on behalf of clients to customers who order via the Internet, the telephone, mail or catalog. By combining best-practice solutions and services, with its nationwide network of distribution and call centers, NewRoads efficiently and cost effectively delivers its clients' products and enhances their customers' brand buying experience. NewRoads delivers almost 18 million shipments annually and speaks to more than 16.5 million customer contacts each year on behalf of top retailers and manufacturers such as Proctor & Gamble (NYSE: PG), American Eagle Outfitters (NASDAQ: AEOS), Avon (NYSE: AVP), Restoration Hardware (NASDAQ: RSTO), The TJX Companies (NYSE: TJX) and Godiva Chocolatier.