CHICAGO (Oct. 13, 10:55 a.m. EDT) — Jeff Garwood, a former GE Plastics executive, has resigned his post as chief operating officer of Web-based Commerx Inc.
Garwood, who joined Commerx a year ago and formerly headed GE Plastics' engineered styrenic resin business, will leave Commerx as part of a realignment in which the company also laid off about 10 people, said Tim Stojka, chairman and chief executive officer.
"The nature of people in the company and the mix has changed quite a bit," Stojka said in an Oct. 13 telephone interview.
Commerx now provides a private network for companies entering Web-based procurement, instead of focusing on its online marketplace, Commerx PlasticsNet.
Chicago-based Commerx is seeking a new operating officer who has technology expertise, Stojka added. The Commerx work force has been reduced by about 5 percent as part of the change, Stojka said. Commerx has 165 employees.
The company has signed new technology agreements with Alberto-Culver Co., Mitsubishi Motors Corp. and American Safety Razor Co., the makers of Schick razors, Stojka said.