DownstreamEnergy Taps Industry Expert to Lead the Company Into the New Millennium; Secures Further Funding to Support Continued Product Development and Sales Growth.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Jan. 8, 2001 DownstreamEnergy, a Web-enabled, supply chain management solutions provider for the refined petroleum products industry, has hired Hugh James Hugh James was an Australian rules footballer who played in the VFL between 1909 and 1916 and, upon returning from military service, from 1919 to 1923 for the Richmond Football Club. He served in the AIF between 1916 and 1919 . as chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. to lead the company into the new millennium. James has an extensive and varied background in leadership and development roles in the energy industry, most recently as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Epic Energy Ltd. in Australia. Backed by a further round of funding from existing investors, DownstreamEnergy will sharpen sharp·en tr. & intr.v. sharp·ened, sharp·en·ing, sharp·ens To make or become sharp or sharper. sharp its focus on the development and deployment of its industry-leading product set and on the continued recruitment of a world-class sales force. "Hugh has an impressive track record of building successful ventures in the energy arena. Under his operational leadership, DownstreamEnergy will increase its product focus and will continue to rapidly deliver new components of our comprehensive Web-enabled solution set," said company founder and CEO John Ireland John Ireland may refer to:
DownstreamEnergy released the production versions of its Web-enabled rack pricing and bill-of-lading data services, Price EnerChange(SM0 and Volume EnerChange(SM), last December propelling pro·pel tr.v. pro·pelled, pro·pel·ling, pro·pels To cause to move forward or onward. See Synonyms at push. [Middle English propellen, from Latin the company to exceed sales goals of paid subscribers. DownstreamEnergy already enjoys a customer base of over 40% of the U.S. refining production. "As DownstreamEnergy enters this next phase in the company's development, we will meet new challenges in terms of enhancing our products and services while building long-term relationships with our customers." Said Hugh James on taking his new post as COO, "Over the next few months, the company will continue to focus on strengthening our development capabilities and securing additional sales. I am excited by the prospect of working with the company's customers, investors, management and staff to achieve the founder's vision." Hugh James also announced that the company is making organizational changes consistent with the renewed emphasis on product development, customer care and sales. New developers have already been hired to supplement DownstreamEnergy's in-house development capabilities while reducing staff in other areas; the first of these new hires begins work with the company effective January 7th. About DownstreamEnergy DownstreamEnergy is a Web-enabled, supply chain management solutions provider for the refined petroleum products industry that integrates and manages information between suppliers, marketers and retailers of gasoline, diesel and propane propane, CH3CH2CH3, colorless, gaseous alkane. It is readily liquefied by compression and cooling. It melts at −189.9°C; and boils at −42.2°C;. . Downstream Energy Corporation, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. founded in 1999, is headquartered in Houston. The company's investors include: Insight Capital Partners, DSE's primary investor, www.insightpartners.com, a global private equity firm that invests in the business-to-business (B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ) and related software infrastructure segments of the information technology markets and Lime Rock Partners, www.lrpartners.com, the premier private equity firm focusing on small cap opportunities in the energy industry. For more information access DownstreamEnergy's Web site at www.downstreamenergy.com |
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