The founder of the Israeli company that works against its management and board of directors

Dr. Zvi Schreiber, the founder and CEO until recently, this week reported a 6.1% holding in Freitos shares and expressed dissatisfaction with its performance and strategy, detailing his plans regarding it.

● The collapse in the Perrigo stock after it was deleted from Tel Aviv: Mossadim was spared a heavy loss
● The cigarette franchise moved, and Fishman’s creditors lost tens of millions

Freitos has developed a system for automatic pricing of goods transportation, and it provides users with a platform that is a kind of digital market for comparing transportation rates, ordering shipping services and managing them. At the end of the hype period for the SPAC companies on Wall Street, in mid-2022, Freitos announced a merger with a SPAC at a value of about half a billion dollars after the money, and the merger was completed in early 2023. Similar to many technology companies that were merged into a SPAC, Freitos also lost a significant portion of its value and never came close to the value in the merger again. Last March, the stock traded at an all-time low, and since then it has recovered slightly and increased by 15.7%.

Schreiber, who founded Freitos in 2012, announced last December his intention to step down as CEO of the company “in order to promote other initiatives”, but that he would remain a member of the board of directors. He said at the time that “building Freitos from the level of vision to the largest digital international cargo booking platform in the world – was a once-in-a-lifetime adventure”, adding that the time was right for a new CEO for the company to lead its continued expansion. He was replaced last March by Pablo Pinios, who was until then the CFO.

“Manager of discussions with third parties”

As for Schreiber, although the plan was that he would remain on the board, about two months later he announced that he would retire from it. According to the report from this week, the value of his current holding in the company’s shares is about 4.4 million dollars. According to the report, Schreiber “believes that the strategic direction of the board and the performance, in particular since the first quarter of 2026, harms the performance of the stock and the value for the shareholders. He also believes that significant value can be created for the shareholders by returning to a high growth strategy, based on a focus on the platform, and changes in the management and the board.”

Schreiber conveyed the message to the board of directors, and according to him intends to continue to be in contact with him and the management, as well as with other shareholders in order to promote the strategy and changes he is proposing.

We note that according to the latest annual report, the most prominent shareholders in Preytos are the British investment management company M&G which owns 18%, the Singaporean fund Asian Gateway Investments with 9.2%, the investment arm of Qatar Airways with 8.7% and the Aleph fund with 6.9%.

Schreiber added that he intends to put forward proposals for a vote at the general meeting regarding the composition of the board of directors. He also stated that he “conducted, and may conduct from time to time, discussions with third parties – including potential strategic or financial buyers, investors, consultants and others, regarding the company, its business, its strategy and the strategic alternatives it has”, including potential transactions for its purchase or assets.