Cymax Group Appoints Three New Directors

Enhanced board to oversee ongoing growth and investment strategies

VANCOUVER, BC, June 15, 2021 /PRNewswire/ - Cymax Group Technologies today announced the appointment of three new directors to its board. They join Cymax Group at a significant point in its evolution as a leading provider of agile commerce solutions in the growing home furniture category. 

Incumbent board members Cymax Group CEO Rizwan Somji, Markus Frind, CEO of Frind Properties, and Andrew Lugsdin, founding partner of Framework Venture Partners, welcome   

• Rob Williams, former General Manager of Global Vendor Management at Amazon and Board Director at Lightspeed
• Sarah Kavanagh, former Commissioner on the Ontario Securities Commission, former Head of Investment Banking at Scotia Capital and Director with Hudbay Minerals, Bausch Health Companies, WPT Industrial REIT and AST Trust Company
• Eric Patel, former Board Chair of Galvanize and Mobify

"I'm absolutely thrilled to welcome Rob, Sarah and Eric to the Cymax Group board of directors," said Riz Somji, CEO of Cymax Group. "Each brings with them a wealth of experience and perspective gathered over many years of success across commerce, technology and finance sectors. We look forward to tapping into their expertise, as we continue to execute on our growth strategy and drive value for our shareholders."

Rob Williams is a global eCommerce consultant, with a 25-year career in eCommerce, retail and SaaS operations that include leadership roles at Best Buy and a decade at Amazon. As a board member with Lightspeed POS, Rob recently helped guide the company to a successful IPO.

Sarah Kavanagh brings exceptional expertise in corporate financial management, investment banking, and capital markets. She has served as a director on numerous public and crown agency boards and in 2015, was named to WXN's Canada's Top 100 Most Powerful Women.

Eric Patel brings with him 17 years of career board experience across private and public companies in multiple sectors, including Galvanize (recently acquired by Diligent) and Mobify (recently acquired by Salesforce). He has been recognized as an NACD Distinguished Board Fellow and was formerly chief financial officer of Crystal Decisions (acquired by Business Objects and, subsequently, SAP).

Markus Frind, Cymax Group's lead investor, commented, "I'm proud of the success Cymax Group has achieved and look forward to working with our new board members to realize the company's full potential."

Significant year-over-year growth in the first quarter of 2021, following a year of historical increases in sales and profit in 2020 is a reflection of the company's dramatic organizational transformation that began when Somji was named chief operating officer in 2018 and and then appointed CEO in 2019.

"Cymax Group is poised to lead in today's online marketplace economy  – one defined by flexibility, collaboration and rapid innovation in contrast to the siloed, monolithic systems that don't serve the unique needs of merchants," adds Somji. "We will continue to invest in our marketplaces and channel management tools to ensure our partners achieve their own business goals."

About Cymax Group Technologies:

Cymax Group is a leading provider of commerce technology and services that enable seamless activation and scale from design to delivery. Through boutique marketplaces Homesquare and Cymax Business, Cymax offers exclusive access to new markets and consumers; Channel Gate delivers integrated tech and services across leading marketplaces, and Freight Club provides retailers access to an expanded carrier network and enterprise rates through its logistics tech platform.  

SOURCE Cymax Group Technologies Ltd.