Joseph Shamir to Retire as ToolsGroup CEO; Inna Kuznetsova Named Successor

Kuznetsova will focus the company's accelerated investment for growth and technology innovation, both organically and through strategic acquisitions.

BOSTON, June 1, 2022 /PRNewswire/ -- ToolsGroup, a global leader in supply chain planning and optimization software, announced today that Joe (Yossi) Shamir will retire from his role as CEO. Inna Kuznetsova, formerly CEO of 1010data, will be his successor. Shamir will continue to be an active ToolsGroup board member and advisor to ToolsGroup investor Accel-KKR.

Since co-founding the company in 1993, Shamir has led ToolsGroup with a unique blend of deep industry and planning technology knowledge as well as passion and dedication to ToolsGroup staff and customers. Over his tenure as CEO Yossi had a major role in ToolsGroup's pioneering adaptive probabilistic modeling, the use of machine learning and advanced analytics in autonomous supply chain planning. He has directed major planning projects in countless multinational companies, and became a recognized industry thought leader over the last three decades.

Kuznetsova's appointment comes on the heels of a major acquisition that placed ToolsGroup among the top vendors in the retail planning space. She will focus the company's accelerated investment for growth and technology innovation, both organically and through strategic acquisitions.

ToolsGroup helps companies such as Absolut, American Tire Distributors, Chewy, Harley-Davidson, and Kathmandu improve service levels while optimizing flows and inventory, despite demand and supply uncertainty.

"I am grateful to have had nearly 30 years with ToolsGroup. It has been an honor working with such a talented, dedicated team, and we've accomplished a great deal together," said Shamir. "I am delighted to welcome Inna as ToolsGroup's new CEO. Inna has a history of leading business transformation in industries characterized by rapid growth and change, and we have a strong vision for the company. I am confident in her ability to lead ToolsGroup in this next phase of growth and success."

Kuznetsova joins ToolsGroup following a series of senior roles in SaaS and supply chain companies with a focus on fast growth and innovation. In her previous role, she was the CEO of 1010data, the leading provider of cross-enterprise data analytics tools. Before joining 1010data, Kuznetsova was the President and COO of INTTRA, the largest digital network and analytics provider for the ocean shipping industry. Her previous adventures include serving as Chief Commercial Officer of CEVA Logistics and Global VP, Marketing & Sales, Systems Software at IBM where she spent over 19 years in a variety of global roles.

"I am excited to assume the CEO role and join this exceptionally talented team, driving innovation in supply chain through AI-enabled technology," said Kuznetsova. "Amid changes in customer demand, geopolitical shifts, and pandemic-induced shipping crises, supply chains need to be redesigned to sense and respond rapidly to external changes. Today ToolsGroup is a partner of choice to many leading manufacturers, distributors, and retailers, and enables them to improve service levels, inventory availability, and the use of working capital. ToolsGroup is uniquely positioned to expand its capabilities and to serve the increasingly complex needs of today's supply chains. I want to thank Yossi and the board for trusting me with the honor of leading the company into the next phase of growth and innovation."

"On behalf of the Board of Directors, we want to thank Yossi for his dedication over his nearly three decades leading ToolsGroup," said Park Durrett, Managing Director of Accel-KKR and a member of the ToolsGroup board of directors. "During his tenure, Yossi grew ToolsGroup into a global supply chain software leader and transformed the supply chain planning industry along the way. The Board congratulates Yossi on his remarkable journey as a founder and CEO and looks forward to his continued contributions as a ToolsGroup board member. We are very excited to welcome Inna into the CEO role, and we have the utmost confidence in her ability to lead ToolsGroup in this new chapter of expansion."

PRESS CONTACT

Jennifer Randall
+1 218-341-1318
https://www.toolsgroup.com/

SOURCE ToolsGroup