X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ORLANDO-Still struggling for a turnaround, locally-based World Commerce Online Inc. is reshuffling its top command to staunch the bleeding of the two-year-old online trades network developer for perishable food and commercial cut flowers. Although it has received $60 million in venture capital, the publicly-traded firm posted a nine-month loss of $27.2 million and a third-quarter loss of $10.4 million.

The 200-employee company, with offices in eight countries, is bringing in Joe Dugan, formerly of Oracle Corp., as president; and Michael Poole, a member of the Federal Reserve Bank of Atlanta’s Jackonsville, FL branch, as CEO. Robert Shaw remains as the company chairman. He previously held all three positions.

Dugan was a senior manager of e-business solutions at Redwood City, CA-based Oracle Corp. and a consultant for Cambridge Technology Group of Boston. Poole has been a World Commerce board member since 1999. He is the founding principal of Poole Carbone Eckbert, a Winter Park, FL-based investment banking firm.

World Commerce is banking on several new contracts, including a deal to supply its technology to Germany’s Atlanta Group, to help it become profitable. World Commerce’s major clients are Dole Fresh Flowers in Miami and food broker Acosta Sales Inc. of Jacksonville, FL.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.