22 September 2005 | Rebecca Ellinor
Prestige Purchasing has made sweeping changes to its management structure following the departure of one of its founders. Peter Isaac has left the consultancy to pursue other interests. Co-founder David Read remains chief executive.
Before he left, Isaac was managing director of Prestige Purchasing Europe. He remains a major shareholder in the firm.
Quentin Neville, formerly director of purchasing for the Spirit Group, a UK entertainment company, is now director of supplier operations at Prestige.
Matthew Kearslake takes on the role of director of client services. He will be responsible for the delivery of all of Prestige's products in the UK, except e-solutions, which will be managed by director Chris Cole.
Maureen Grippa has been appointed president of US-based Prestige Purchasing Inc. Read said one reason for the firm's restructuring was a change in the focus of the business.
"We used to almost exclusively help large organisations develop strategic procurement, but most of them have got it now; they understand what it is and how it impacts on the bottom line. We still offer that, but what businesses are saying they need now is practical support to get there," he explained.
As a result of the reorganisation, Prestige has combined its three divisions - corporate solutions, consortium and e-solutions - to form a single business unit. It will now concentrate more on the provision of buying services, e-procurement and tactical and project support.