NAPA, CA--(Marketwire - March 4, 2010) - In yet another example illustrating increasing business momentum, Inertia Beverage Group (IBG) strengthened its management team by announcing today that it has named Joseph W. Waechter, the former president and CEO of DHL Worldwide Express and more recently managing director of California Pacific Capital, as chief executive officer of IBG, effective March 4.
IBG (www.inertiabev.com) is the leading provider of direct sales technology and services to the wine industry and the wine industry's only fully integrated direct-to-market solution.
IBG Chairman Dave Manougian said that Waechter was selected for the top post at the company because of his extensive background in logistics, fulfillment and business management. Waechter, 56, who worked for DHL for 15 years, is credited with the growth and expansion of DHL as it transitioned from a virtually unknown company into the world's largest express shipment company. Later, he was president and CEO of Air Micronesia, chairman and CEO of United Micronesia Development Association and chairman and CEO of Danao International Holdings, a developer of golf, hotel and resort properties in Vietnam. Most recently he was managing director of California Pacific Capital, a San Francisco-based investor in early-stage companies.
"Joe's logistics and fulfillment experience makes him a perfect fit for his new job at IBG as it continues to build the most full-featured end-to-end platform for eCommerce and its constituent parts for online sales in the wine industry," Manougian said.
Waechter takes over the CEO position from his predecessor, Ted Jansen, who left the company to join his family in Seattle, Washington, and to pursue new opportunities in that area.
"Given IBG's goal to become the leading provider of direct sales and marketing for technology and services for the wine industry -- essentially delivering the industry's only fully integrated direct-to-market solution -- I'm excited to lead IBG to this successful outcome," Waechter said.
In another recent development for IBG, Foley Family Wines, the nation's twenty-fourth largest wine purveyor, will now use IBG's integrated platform for its direct-to-consumer fulfillment needs for seven of its brands. The seven properties that will immediately begin using IBG's shipping services are Firestone Vineyard, Foley Estates, Kuleto Estate, Lincourt Vineyards, Merus, Sebastiani Vineyards and Winery, and Three Rivers Winery.
IBG was founded by wine and technology veterans in 2002. It enables direct-to-consumer and trade sales for more than 500 wine brands. Last December, IBG announced that it had secured agreements for $14 million in new capital from existing investors Allegis Capital (www.allegiscapital.com) and Sid R. Bass Associates and new investor PEI Funds to support the vision of IBG to deliver a fully integrated direct-to-market solution. The funding is being used to further strengthen IBG's core services of fulfillment, winery-direct eCommerce and compliance.
About Inertia Beverage Group
Founded in 2002, Inertia Beverage Group is the leading provider of direct sales technology and services to the wine industry. As the wine industry's only fully integrated direct-to-market solution, IBG provides wineries, retailers and wholesalers with eCommerce technology, compliance tools, logistics solutions and state-of-the-art shipping services that give them access to new markets, consumers and products. IBG is headquartered in Napa Valley. For more information, visit: www.inertiabev.com.
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