Motor City Fastener buys Emco, an electrical and mechanical supplies distributor, and gains a presence in the Southeast.
Faisal Masud moves into the new position of chief technology officer to unify B2B and B2C e-commerce and technology operations, Staples says.
There’s a familiar name in a new position at Staples Inc. Faisal Masud was promoted to chief technology officer, a new position at the office supplies company that will combine oversight of e-commerce and technology for the business unit--Staples Advantage—and the consumer side.
In announcing Masud’s promotion yesterday from executive vice president of global e-commerce, Staples described his new job as being a sort of hybrid position wherein he’ll be responsible for overseeing the growth of the company’s technology and its online sales. “Aligning our e-commerce and global technology organizations under one leader will speed execution so we can more rapidly bring digital solutions to market, and drive even greater innovation within the business as we continue to enhance our B2B customer experience,” CEO Shira Goodman says. Goodman herself was promoted in September to the chief executive role after more than 23 years at Staples.
Staples, which has been expanding its product lines, has said it expects much of its growth to come in B2B e-commerce.
This is the second time Staples, No. 22 in the 2017 B2B E-Commerce 300, has created a new position specifically for Masud. When Staples hired him away from Groupon Inc. in May 2013, it created the position of vice president of global e-commerce for Masud to fill, and charged him with putting the company’s cross-channel strategy into place. He’s credited with overseeing a number of innovations during his tenure at Staples, including the opening of five innovation and e-commerce centers known as Staples Labs, the company’s newly launched Staples Easy System connected B2B e-commerce initiative, and Staples Exchange, an online marketplace enabling vendors to sell through all of Staples’ e-commerce channels.
Earlier this month, Staples announced the sale of a majority stake of its European business, including its e-commerce business, to private-equity firm Cerberus Capital Management L.P. In November, it sold its U.K. business to Hilco Capital Ltd. At the time the company said it wants to focus on its North American business.
Sign up for a free subscription to B2BecNews, a twice-weekly newsletter that covers technology and business trends in the growing B2B e-commerce industry. B2BecNews is published by Vertical Web Media LLC, which also publishes the monthly business magazine Internet Retailer.
Follow us on LinkedIn and be the first to know when B2BecNews publishes new content.