BILL SEAGRAVE NAMED CEO AT FASTURN

Byline: Kate Bowers

LOS ANGELES — E-marketplace services provider Fasturn Inc. has named former Oracle executive Bill Seagrave as chief executive officer.
Seagrave, who was vice president of application sales at high tech power Oracle Corp., reports to former Fasturn ceo Frank Litvak, who is remaining with the business-to-business Web site as chairman. Litvak characterized the move as the next step in the growth of the company, which has shifted its focus from managing a public, global sourcing Web site to selling Web-enabled, supply-chain management software.
In fact, refining product positioning is top among Seagrave’s plans for Fasturn. “We need to go from a rather amorphous offering to a specific set of applications a company can use to [lift] margins,” he allowed.
Fasturn’s new ceo also is planning to reorganize staff. Fasturn has cut back on its marketing and editorial workforce, which created content for the public marketplace, and more layoffs are planned, but Seagrave declined to specify. There also are plans to add staff to the IBERC business, a Washington, D.C.-based importing consultant that Fasturn acquired in October, as reported.
It’s likely that new hires will have technology backgrounds, as Fasturn and other relatively new technology players race to implement Web-enabled supply-chain management solutions. The ante for B2B ‘Net players has been rising recently, with the stock market’s convulsions and Nike’s well-publicized placement of blame for part of its earnings shortfall on snafus with i2 Technology’s inventory management systems. Fasturn itself has a licensing agreement with i2, bringing it access to the Dallas-based firm’s demand forecasting and planning software.