Co-founder and CEO Joel Bar-El to assume position of Executive Chairman to lead efforts on corporate strategy, long-term vision and innovation and shareholder value creation.
Dror Feldheim, Co-founder and Chief Commercial Officer, to be appointed President to lead new growth initiatives, global partnerships / alliances and M&A.
Justin Behar, Chief Corporate Development Officer, to be promoted to CEO to lead the company forward to its next level of growth.
Singapore / U.S., 20 January 2021 – Trax Ltd, a leading global provider of computer vision and analytics solutions for retail today announced key changes to its senior management as part of the company’s 2025 growth vision to drive the company’s long-term growth strategy and cement its global leadership position.
Joel Bar-El, Co-founder of the company who has served as CEO for the past eight years, bringing the company to its current Unicorn status, will assume the position of Executive Chairman, reporting directly to the board of directors. This will enable Bar-El to focus on long-term corporate strategy and vision, including innovation and increasing shareholder value creation as well as investor relations.
Dror Feldheim, Co-founder and Chief Commercial Officer, who has been an instrumental part of the company’s success and its current commercial stature, will be appointed President. This will enable Feldheim to focus on broader strategic initiatives, expanding Trax’s global partnerships and capitalizing on additional inorganic growth and acquisition opportunities.
Joel Bar-El and Dror Feldheim will continue to serve as directors on the company’s board of directors.
Justin Behar, who previously served as Chief Corporate Development Officer, will be promoted to the role of Chief Executive Officer and will join Trax’s board of directors. In his new position, Behar will report directly to the company’s board. Behar joined Trax in 2018 as part of Trax’s acquisition of Quri, where he was a founder and CEO. Over the past three years with Trax, Behar has played an instrumental part in Trax’s strong growth, leading the planning and execution of five additional strategic acquisitions for the company. In addition, Behar leads the company’s strategic development and execution of its on-demand workforce solutions, such as Dynamic Merchandising and Flexforce.
Joel Bar-El commented: “The COVID-19 pandemic has been a huge catalyst for the need to bring forward transformational innovation for the retail industry. After a period of 8 years as Trax’s CEO, I recognize how important it is for Trax to maintain its position as the technology innovation leader for the digital retail industry. I will therefore focus on our long-term strategy to deliver the critical solutions that retailers and manufacturers need to succeed in the post COVID-19 environment. As I take on this new role, I have full confidence in Justin, Dror and the entire senior management team to help drive the day-to-day management of the business. Justin Behar is the right person to continue to lead Trax towards new heights.”
Dror Feldheim added: “As we prepare to bring Trax to the next stage, it is important for us to keep our entrepreneurial growth mindset and market focus, which has been a cornerstone of our success. I commend Justin Behar’s appointment to the role of CEO and believe he has both the growth mindset and rigor to lead Trax to the next level. I am excited to continue working closely with Joel and Justin to focus on future growth opportunities.”
Justin Behar, newly appointed CEO concluded: “In 2018 I was afforded the opportunity to join Trax, via its acquisition of Quri, which I founded. During my time at Trax, I have had the privilege to serve on the company’s executive team and lead significant strategic acquisitions that created substantial value for the company. I am grateful to the Founders and the board of directors for their trust and for this opportunity to serve as CEO. I firmly believe in Trax’s ambitious vision, unique product and value proposition and look forward to driving the next phase of growth while maintaining the Founder’s legacy of a value-driven, can-do entrepreneurial culture.”
About Trax
Trax is a leading provider of computer vision solutions and analytics for retail. Our proprietary computer vision, machine learning, and Internet-of-Things-powered platform turns everyday shelf images into real-time, actionable insights that our customers leverage to optimize their in-store execution strategy and product availability. Simply put, we digitize the physical world of retail. Many of the world’s top CPG companies and retailers use our dynamic merchandising, in-store execution, market measurement, analytics, and shelf monitoring solutions at scale to drive positive shopper experiences and unlock revenue opportunities at all points of sale. We began as pioneers in the retail computer vision space and we continue to lead the industry with innovation and excellence through our development of new advanced technologies and autonomous data collection methods. Trax is headquartered in Singapore and provides solutions to its customers in over 90 countries worldwide. To learn more, visit www.traxretail.com.
Trax Press Contact
Fei Fei Ho
EVP, Corporate Marketing & Communications
feifei@traxretail.com
