Leadership Transition at Freightos: CFO Pinillos Steps Into the Helm as Founder Departs

Freightos Limited (CRGO) disclosed a significant executive reshuffle on Wednesday, with founder and CEO Zvi Schreiber announcing his departure to pursue new entrepreneurial ventures. The logistics tech company has tapped Pablo Pinillos, its Chief Financial Officer, to steer operations as interim CEO while the board launches a formal search for a permanent successor.

CFO Takes Temporary Control Amid Strategic Transition

Pablo Pinillos steps into the interim leadership role at a critical juncture for the Nasdaq-listed company. As CFO, Pinillos brings financial acumen and institutional knowledge, positioning him to maintain operational continuity during the transition period. The board’s decision to elevate him from the finance function underscores confidence in his capabilities to navigate the company through this leadership gap.

Schreiber Maintains Board Presence, Eyes Future Ventures

While departing from the CEO role, Zvi Schreiber will retain his position as a board member, signaling a gradual rather than abrupt separation. His decision to step aside reflects a desire to pursue fresh entrepreneurial opportunities outside Freightos. In his remarks, Schreiber expressed optimism about the company’s future, stating, “It will be a privilege to continue actively supporting Freightos as a board member, and I can’t wait to see where our outstanding team takes it from here.”

Market Response and Stock Performance

The leadership announcement coincided with CRGO shares trading at $2.98, reflecting a modest 2.48% decline on the Nasdaq. Market watchers will be monitoring how investor sentiment evolves as the board progresses through its comprehensive executive search process.

What’s Next: The Search for Permanent Leadership

The board has committed to a thorough search to identify a new CEO capable of executing the company’s vision and growth strategy. The interim arrangement with Pinillos provides a stabilizing force while the recruitment process unfolds, ensuring the company maintains its operational focus during this transition phase.