Zvi Schreiber, the founder of Freightos, has begun a shareholder advocacy campaign to change the board of the company and return the freight technology company to what he describes as a platform-led, high-growth strategy.
Schreiber, a shareholder, is spearheading the campaign, named GrowCRGO, ahead of Freightos’ 2026 annual general meeting. He founded Freightos in 2012 and ran the company for 14 years before stepping down from its board in February 2026. He currently holds a 6.1% stake, making him one of the largest individual shareholders in Freightos.
Shareholders are growing increasingly frustrated, Schreiber told The STAT Trade Times in an exclusive interview, noting the company’s share price has fallen more than 60% in the past year.
Freightos’s stock fell about 62% from the July 28, 2025, level when the current chairman, Udo Lange, was appointed, according to the campaign’s analysis of market data. The Nasdaq Composite has gained about 25% over that same period.
Marketplace to SaaS: Did the shift blow up?
A major plank of Schreiber’s campaign is his contention that Freightos has been overly fixated on achieving near-term EBITDA breakeven at the expense of revenue growth.
He points to the statement of strategy issued by Freightos on February 23, 2026, in which then CFO and Interim CEO Pablo Pinillos called out 2026 as a transition year in which the company was intentionally sequencing its growth.
Freightos also announced its shift to a Solutions-first strategy. Schreiber resigned from the board the same day the new strategy was announced.
Schreiber says Freightos’ subsequent financial results have only stoked his fears.
In the second quarter of 2026, the company’s revenue rose to $7.691 million, up 3% year-over-year.
“The results show a big difference between the two halves of the business,” says Schreiber.
The Platform business, which he says the board had deprioritized, grew 19% to $2.9 million in Q2 2026. Meanwhile, the middle segment of the strategic pivot, Solutions, fell 4% to $4.8 million, or about 7% in real terms.
He also points out the Solutions revenue path. It peaked at $5.1 million in Q3 2025 and has not grown in any quarter since then, dropping to $5.1 million, $4.9 million, $4.8 million and $4.8 million.
Schreiber concludes that the platform business that the board had abandoned was responsible for all the company’s quarterly growth.
Freightos is now guiding for 3-5% revenue growth for the full-year, well below the company’s longer-term model of 25-30% annual growth.
The share-price performance gives another boost to his criticism. Since Lange became chairman on July 28, 2025, Freightos’ market value has fallen about 62% while the Nasdaq Composite has risen about 25%.
AI creates another strategic fault line
Another major element of Schreiber’s argument is artificial intelligence.
He sees Freightos’ move toward Solutions, which is largely a SaaS-based business, coming at a time when AI is putting increasing pressure on traditional software models.
For Schreiber, the company’s marketplace offers something that AI agents can’t simply copy: a neutral network connecting carriers, forwarders and importers, as well as live tradable prices and the infrastructure to actually execute freight bookings.
This marketplace could be even more valuable in an AI-driven freight industry, he says.
“What no AI agent can replace is the neutral marketplace – the network of carriers, forwarders and importers, the live tradable prices, the rails actually to execute a booking. “AI agents will need the Freightos Marketplace even more than human freight professionals,” he said.
“It would be just wrong for me to keep quiet.”
Schreiber says that after leaving the board he initially decided not to take on Freightos’ board in public.
Instead, he says he voiced his concerns privately.
That changed after the second quarter earnings and softer third quarter guidance from Freightos. Those developments led Schreiber to believe the company’s strategy for 2026 wasn’t working and shareholder value was being destroyed, he said.
He now says it would not be right to stay silent any longer.
Schreiber outlines three priorities for Freightos:
Through the GrowCRGO campaign CRGO being the Nasdaq ticker for Freightos Schreiber is calling for three major changes.
The first is a change in the leadership of the board. He wants Freightos to appoint a new chairman with a technology-growth background and make other changes to the board, including moving directors to standard one-year terms.
Udo Lange is one of the campaign’s key players. He joined the board in 2022 and was appointed independent chairman of Freightos in July 2025. Lange, who has more than 20 years of logistics and supply chain experience including senior leadership positions at FedEx and DHL Global Forwarding,
Schreiber’s second demand is a recommitment to aggressive growth in the Freightos platform business. This includes a relaunch of the Freightos Marketplace for what he calls the AI era.
His third priority is to rebuild the company’s senior management team and deal with what he calls a loss of key talent.
The exits from leadership have not been limited to Schreiber himself. In 2026, after 13 years at Freightos, Chief Marketing Officer Eytan Buchman announced he was leaving.
Among the director-level departures was Antonia Ambrozy, who led revenue operations and had experience in digital transactions and SaaS sales. She announced her departure in June 2026 after more than three years with the company.
Freightos also announced a reduction of up to 15% of its workforce in March as part of a cost-optimisation program.
In a June 29 filing with the US Securities and Exchange Commission, Schreiber said he planned to engage with Freightos’ board, management and shareholders on the company’s strategy and governance. That engagement may include changes to the board and the role of the chairman.
In the filing, Schreiber said the board’s strategic direction and implementation, especially since the first quarter of 2026, are hurting Freightos’ performance and short- and long-term shareholder value.
He also argued that significant value could be created for shareholders by returning Freightos to a platform-first, high-growth strategy and changing the makeup and leadership of the board, including the role of chairman.
Schreiber said he has already submitted three formal resolutions for consideration at the 2026 AGM.
Freightos received the resolutions on July 8. However, the company challenged Schreiber’s standing and right to bring the resolutions to the meeting. Freightos’ board said it would consider the request on or before Nov. 4, according to Schreiber.
Freightos has not endorsed Schreiber’s campaign but has acknowledged the shareholder proposals.
In a statement the company said it was aware of the communications and shareholder proposals filed by Schreiber. The board and management of Freightos regularly consider feedback from shareholders and will consider the matters in due course, as required by the company’s governing documents and fiduciary duties.
The company stated its board and management remain focused on executing its operational strategy and delivering long-term value to shareholders.
“We have no further comment at this time,” said Freightos.
Who is on the Freightos board?
Freightos’ board brings together logistics operating experience with finance, investment, aviation and technology expertise.
Udo Lange, chairman and CEO of Stolt-Nielsen and an ex-FedEx executive, has 20-plus years of experience in global freight, customs and logistics.
The executive leadership piece is provided by CEO and CFO Pablo Pinillos who has had three startup and IPO experiences.
The independent directors have experience in aviation, technology and capital markets.
Mark A.P. Drusch, Chief Cargo Officer, Qatar Airways and Michael Schaecher, founder mSc Avia Consulting bring airline and aviation-logistics expertise.
Former Maersk and Amazon executive Rotem Hershko, now a senior advisor at McKinsey, adds experience in digital transformation and e-commerce.
The Compensation Committee is chaired by Inna Kuznetsova, the former CEO of ToolsGroup and a veteran of INTTRA and CEVA Logistics.
NeuroBlade CFO Tzvia Broida chairs the Audit Committee.
The board’s investment perspective is provided by Ezra Gardner, Gesher CEO and partner at Varana Capital and Carl Vine, Co-Head of Asia Pacific Equities at M&G Investments. Together they add an extra layer of oversight of financial and capital markets.
Freightos ownership is still diversified
Freightos Limited (Nasdaq: CRGO) is a company owned by a diverse group of institutional investors, strategic partners and founder Zvi Schreiber.
The latest ownership data for the company shows that 40.2% of shares are owned by the general public, 27.6% are owned by institutions, 9.19% are owned by public companies, 8.7% are owned by private companies, 7.45% are owned by individual insiders and 6.86% are owned by VC/PE firms.
The top 25 shareholders in Freightos own approximately 59.4% of Freightos.
M & G Investment Management is the biggest shareholder on 13.3%, or 6.87 million shares.
Singapore Exchange Limited at 9.19%
Qatar Airways Group, a strategic partner, owns 8.7% and Aleph Venture Capital owns 6.86%.
Schreiber has given up his executive roles, but is still the biggest single shareholder in Freightos with 6.06%.
Bard Associates owns another 4.74%.
Schreiber’s AI growth
Schreiber has continued to work on AI-related technology since leaving Freightos, as his campaign seeks to shift the company he founded to a more aggressive growth strategy.
He is now CEO and co-founder of PanLuma, an AI-native business software platform that combines ERP functions.
“Normally, building this kind of software would cost about $20 million with 100 engineers over a three-year development period,” says Schreiber.
No, he says he built the platform himself in six months flat, orchestrating a fleet of AI agents.
The contrast is instructive: Schreiber is criticizing Freightos for what he believes is a too-careful strategic course, yet he’s also applying AI to a radically different approach to software development outside the company he founded.
