On December 2nd, 2013 Genco Marketplace announced that Bob Auray, Jr., who has served as President and CEO of Genco for the last seven years, was replaced by Laurie Barkmen. Bob’s performance has been very impressive over his tenure as CEO with Genco, in fact, information I reviewed indicated that Bob doubled revenue and increased annual earnings to the tune of 20%.
Laurie Barkman, who has served as Genco Marketplace’s Chief Operating Officer since July of 2013, has been named new CEO and President of Genco. Genco did not announce why this change took place, and due to Bob Auray’s success, one can only speculate as to the change in leadership. Bob will continue to serve in the role of vice chairman at GENCO working to further develop strategic business initiatives.
Quoting Herb Shear directly from the PR Newswire, Herb says, “We are pleased to name Laurie as the new president and CEO of GENCO Marketplace. The depth of her experience and skill that she brings has already proven to be invaluable to the continued growth and success of GENCO Marketplace”
Are you familiar with Genco? Genco operates as a third party reverse logistics provider serving some of the countries largest internet and brick and mortar retailers moving millions of dollars worth of customer retuned merchandise daily. Who buys pallets and truckloads of customer returned merchandise? Answer: those wishing to source named brand merchandise at a fraction of original retail and wholesale pricing, hence the liquidation industry.
Do you have first-hand experience buying from the Genco Marketplace? Share your comments and stories here at the Liquidators Guide.