The pressure's on as corProcure restructures

The pressure's on as corProcure restructures

The problem child of the blue-chip online buying exchanges, corProcure, is shedding its CEO and re-focusing its business, although none of the 14 large companies supporting the e-procurement site are indicating they are ready to give up the effort.

CorProcure chairman David Hodge said in a statement that the changes will "more closely align the cost structure with expected revenue flows". That will translate into job cuts in the near future among corProcure's 45 permanent employees.

CorProcure's general manager of business service, Tom Honan, will replace current CEO Len Ward. Honan has held senior financial and management positions with Nike, PricewaterhouseCoopers and Mobil, both in Australia and the US.

"Further restructuring will result in additional positions becoming redundant as corProcure starts to focus on the operational phase of its development," according to the statement issued by Hodge.

On the heels of speculation that stakeholders Telstra and Qantas Airways had become restive over the direction of corProcure, Hodge said that all shareholders have re-affirmed their commitment to the business.

His statement stressed that corProcure's mission was to create an "open, independent e-marketplace environment".

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