Transfix announces Shen stepping down, appoints new CEO
Digital freight broker Transfix announced Thursday that co-founder and Chief Technology Officer Jonathan Salama has been appointed CEO effective immediately.
Salama replaces CEO and President Lily Shen, who is stepping down after five years with the company. Shen will serve as an adviser during the transition.
“Jonathan’s unique combination of technology and operations expertise makes him an ideal leader and the natural and strategic successor for the CEO role. We look forward to a continued partnership with Jonathan and the Transfix team,” said Carmen Chang, general partner at venture capital firm New Enterprise Associates, which is currently an investor in Transfix.
Previously Salama was part of the core engineering team at e-commerce brand Gilt Groupe. Before launching Transfix, Salama was a software engineer at car wash startup Cherry.
“We will remain focused on the same shared mission that we’ve had since Day 1 — to build the world’s most connected and intelligent freight platform,” Salama said in a news release. “I thank Lily for all of her accomplishments and contributions over the years. She has been an invaluable partner and leader, and I wish her the very best in her next endeavor.”
Salama will remain a member of Transfix’s board.
Chang added, “On behalf of the Board of Directors, I would like to thank Lily for her leadership and dedication over the past five years. During her tenure, Transfix has advanced its position as an industry leader and innovator, and is poised for a strong and successful future ahead.”
Shen was credited with driving Transfix’s platform strategy, product offerings and strategic partnerships, which allowed the broker to win market share, the news release said.
“It’s been an honor leading Transfix. I could not be more proud of the advancements we have made, the growth we have driven, the impact we have had on our customers, carriers and the industry at large, and the team we have built,” Shen said.
In October, the company pulled a planned initial public offering as public market conditions deteriorated.
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Editor: Todd Maiden