Freightos Announces CFO Transition

Rhea-AI Summary

Freightos (NASDAQ: CRGO) announced that CFO Ran Shalev will step down effective December 31, 2024, to pursue another role. Shalev, who served as CFO since 2016, will assist with operations and handover throughout Q1. During his tenure, he oversaw the company's financial operations, including its Nasdaq listing, strategic acquisitions, and growth in revenue and transaction volumes. The company is currently searching for a successor, with Shalev confirming he will remain a shareholder and support a smooth transition.

Positive

• Strong Q3 performance reported
• Company has sufficient financial resources to reach breakeven
• Orderly transition plan with CFO supporting Q1 handover

Negative

• Departure of long-term CFO who managed key financial milestones
• Potential operational disruption during leadership transition

BARCELONA, Spain, Nov. 25, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading vendor-neutral digital booking and payment platform for the international freight industry, today announced that Ran Shalev, Chief Financial Officer, has decided to conclude his tenure effective December 31, 2024, to pursue another role. The company is in the process of a search for a successor. In order to ensure continuity, Mr. Shalev has agreed following his departure to actively assist with ongoing operations and with handover throughout Q1.

Mr. Shalev has served as Freightos' CFO since 2016, overseeing the company's financial operations during a transformative period that included its public listing on Nasdaq, the successful execution of multiple strategic acquisitions, and consistent growth in revenue and transaction volumes.

"Ran has been an essential part of Freightos' evolution from a small, innovative startup to a global leader in digital freight," said Zvi Schreiber, CEO of Freightos. "His leadership has been instrumental in driving financial discipline, achieving key milestones, including executing and integrating strategic acquisitions that have expanded our capabilities and market reach. On behalf of the board and the Freightos team, I want to thank Ran for his exceptional contributions and wish him success in his next chapter."

Reflecting on his tenure, Mr. Shalev said, "It has been a privilege to contribute to Freightos' mission of digitalizing global freight and to see the company's incredible progress over the years. With a strong Q3 behind us, I leave the company well-positioned for continued growth, and with the financial resources needed to reach breakeven. I have full confidence in the talented finance team and their ability to keep everything running smoothly, and to continue the timely and accurate financial reporting, as the company transitions to a new CFO. I look forward to supporting a smooth transition as the company continues its journey and to remaining a friend and shareholder of the company."

About Freightos

Freightos® (NASDAQ: CRGO) is the leading vendor-neutral global freight booking platform. Airlines, ocean carriers, thousands of freight forwarders, and well over ten thousand importers and exporters connect on Freightos, making world trade faster, more efficient and more resilient.

The Freightos platform digitizes the trillion dollar international freight industry, supported by a suite of software solutions that span pricing, quoting, booking, shipment management, and payments for global businesses of all shapes and sizes. Products include the Freightos Marketplace, WebCargo, WebCargo for Airlines, Shipsta by Freightos, 7LFreight by WebCargo, and Clearit.

Freightos is a leading provider of real-time industry data via Freightos Terminal, which includes the world's leading spot pricing indexes, Freightos Air Index (FAX) for air cargo and Freightos Baltic Index (FBX) for container shipping.

More information is available at freightos.com/investors.

Media Contact:
Tali Aronsky
press@freightos.com

Investors:
Anat Earon-Heilborn
ir@freightos.com

Logo: https://mma.prnewswire.com/media/2319256/4496202/Freightos_Logo.jpg

 

View original content:https://www.prnewswire.com/news-releases/freightos-announces-cfo-transition-302315268.html

SOURCE Freightos

FAQ

When is Freightos CFO Ran Shalev leaving the company (CRGO)?

Ran Shalev will conclude his tenure as Freightos CFO effective December 31, 2024.

How long will Freightos (CRGO) CFO assist with the transition?

After his departure, Ran Shalev will actively assist with operations and handover throughout Q1 2025.

What major achievements occurred during Ran Shalev's tenure as Freightos (CRGO) CFO?

During his tenure since 2016, Shalev oversaw Freightos' public listing on Nasdaq, executed multiple strategic acquisitions, and achieved consistent growth in revenue and transaction volumes.