Freightos Taps Finance Chief Pinillos as CEO to Steer Ship to Profitability

BARCELONA, Spain – March 12, 2026 – In a decisive move signaling a strategic shift toward financial discipline and profitable growth, Freightos Limited (NASDAQ: CRGO) has appointed its Chief Financial Officer, Pablo Pinillos, as the new Chief Executive Officer. The appointment, effective March 16, marks a new chapter for the digital freight platform as it navigates the post-founder era with an explicit mandate to achieve financial break-even by the end of the year.

Mr. Pinillos succeeds the company's visionary founder, Zvi Schreiber, who stepped down in January after 14 years. The appointment follows a comprehensive search that included both internal and external candidates, with the board ultimately placing its confidence in the executive who has guided the company's finances for the past year.

A New Captain with a Financial Compass

Unlike many tech company leaders who rise from product or engineering ranks, Pinillos brings a formidable 20-year background in finance, strategy, and operations. His tenure as CFO since March 2025 and as Interim CEO since January 2026 has given the board a firsthand look at his capabilities.

"The Board is confident Pablo is the right leader to guide Freightos through its next phase of growth," stated Udo Lange, Chairman of the Board. "Throughout his tenure as CFO and Interim CEO, Pablo has demonstrated a deep understanding of our business, as well as the strategic and operational discipline necessary to scale Freightos in a complex global market."

This emphasis on operational discipline is core to Pinillos's professional history. Before joining Freightos, he served as CFO at high-growth software companies Coincover and Bitrise, where he managed financial strategy during periods of rapid scaling. His most extensive experience comes from a nearly 14-year tenure at data analytics firm Qlik. There, he held senior roles, including VP of Strategic Growth and Business Transformation, and was instrumental in navigating the company through its Initial Public Offering (IPO) and a subsequent acquisition by a private equity firm. This track record of steering companies through critical financial milestones appears to be exactly what the Freightos board was seeking for its next stage.

Navigating the Path to Profitability

The most immediate and high-stakes challenge on Pinillos's desk is the company's financial performance. In his first public statements as CEO, he made the objective clear: "My focus remains on disciplined execution, delivering on our shorter-term commitments, including reaching financial break even in Q4 of this year, while positioning us for long-term growth."

This goal is set against a challenging backdrop. While Freightos reported a 24% increase in revenue to $29.5 million for the full year 2025, the company remains unprofitable. Its stock (CRGO) has also faced pressure, declining over 60% in the three months leading up to the CEO announcement, partly fueled by uncertainty following the founder's departure.

However, the company projects confidence. It is forecasting revenue growth between 6% and 12% for 2026 and ended 2025 with $28 million in cash. The leadership team anticipates finishing 2026 with approximately $20 million in cash, suggesting a belief that the break-even target is achievable without raising additional capital. Pinillos's appointment is a clear signal to investors that cost management and a direct line to profitability are now the primary focus.

The Founder's Legacy and a New Chapter

The transition marks the end of an era for Freightos. Founder Zvi Schreiber was the driving force behind the company's mission to digitize the sprawling, trillion-dollar international freight industry. His departure, first announced in late 2025, was framed as a planned succession to allow a new leader to guide the company's scale-up phase.

While Schreiber initially planned to remain on the board, subsequent reports indicated he stepped away due to what was described as "diverging views with directors over the company's direction." He remains a significant shareholder and has expressed his intention to pursue a new AI-driven startup, closing the book on his operational involvement with the company he built into the world's largest digital freight booking platform.

This classic founder-to-operator transition is a pivotal moment. It shifts the company's narrative from one of visionary disruption to one of mature, sustainable growth. The selection of a finance-first CEO underscores this evolution, prioritizing the operational and financial architecture needed to build a durable, profitable business on the foundation the founder laid.

Doubling Down on Digital Dominance

Even with the intense focus on financials, the company's growth strategy remains ambitious. Pinillos affirmed his commitment to the company's core mission, stating, "I am fully committed to the monumental task of digitalizing international freight to improve global trade." He outlined a near-term strategy focused on expanding the company's solutions business, leading a push into ocean freight and procurement management, and deepening customer engagement.

Freightos has already established a formidable presence. Its platform, which connects airlines, ocean carriers, freight forwarders, and importers, handled an annualized run rate of 1.7 million bookings and over $1 billion in Gross Booking Value as of late 2025. Its data arm, Freightos Terminal, produces the widely cited Freightos Baltic Index (FBX) for container shipping and Freightos Air Index (FAX) for air cargo, cementing its role as a central source of market intelligence.

The push into ocean and procurement management represents a significant expansion of its addressable market. By embedding its software deeper into the workflows of global logistics providers, Freightos aims to convert its vast network into more consistent and profitable transaction growth. With Pinillos's appointment, the company is now actively searching for a new Chief Financial Officer to backfill his former role and help execute this dual strategy of fiscal tightening and strategic expansion.