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Founder of cargo booking platform Freightos seeks new chairman
Zvi Schreiber calls for leader with technology-growth background to replace Udo Lange
(narvikk/Getty Images)
Key Takeaways:
- Freightos founder Zvi Schreiber called for Chairman Udo Lange’s ouster and a new chairman with a technology-growth background.
- Schreiber cited a 62% share-price decline during Lange’s tenure and urged aggressive platform growth to counter senior talent departures.
- Schreiber is seeking shareholder support for the changes and wants directors’ terms shortened to one year from three.
The founder of cargo booking platform Freightos is calling for a board shakeup including the ouster of Chairman Udo Lange, citing a 62% drop in the company’s share price during Lange’s tenure.
In a registry posted online, Zvi Schreiber, who launched Freightos in 2012 and led it for 14 years, is calling for other shareholders to join him in finding “a new chairman with a technology-growth background.”
Schreiber said he’s pushing for a recommitment to “aggressive” growth of the platform and a team rebuilt around “a strategy worth staying for” to stem an exodus of senior talent. Schreiber is also calling for directors’ terms to be shorted to one year from three.
Lange, who joined the board in 2019, was appointed nonexecutive chairman in July 2025. Lange was CEO of FedEx Logistics from September 2019 to March 2023. In all, he spent eight years at FedEx. In September 2023, he became CEO of Stolt-Nielse, a company focused on bulk liquid and chemical logistics, storage and land-based aquaculture.
FedEx is one of Freightos' shareholders. FedEx ranks No. 3 on the Transport Topics Top 50 list of the largest global freight companies.
In an emailed statement, Freightos said it’s aware of Schreiber’s proposals and “will evaluate these matters in due course in accordance with the company’s governing documents and fiduciary responsibilities.”
“The board and management remain fully focused on executing our operational strategy and delivering long-term value for all Freightos shareholders,” the statement said.
Schreiber, who records show holds about 6.1% of shares outstanding, said that he’s asking shareholders to register their emails “so that when the moment comes to vote for change, and I’m going to fight to uphold our right to that vote, you’ll hear from me and make your own decision.”
With offices in Israel and Spain, Freightos went public in 2023 with special purpose acquisition company Gesher I Acquisition Corp., listing on the Nasdaq under the ticker “CRGO.”
Freightos has been among the most prominent companies aiming to digitize air and sea cargo transactions by connecting shippers, forwarders and carriers, in a strategy Schreiber said is intended to make it the “Booking.com” of global logistics.
Freightos shares hit an intraday peak topping $31 a share on its first day of trading in January 2023. On Sept. 8, it closed at $1.27.
“International freight is still in the early innings of digitalization, and Freightos remains the best-positioned company in the world to lead it,” Schreiber said in the petition. “But that lead is slipping.”
