Trax appoints new CFO and first independent board member

Trax, a provider of computer vision solutions and analytics for retailers, has announced the appointment of Karl Johnsen as Chief Financial Officer and Debbie Simpson as its first independent board member, who is not affiliated with a Trax investor.

“The addition of Karl and Debbie to our organisation marks a new chapter for Trax,” says CEO Justin Behar

“Our ambitious goals for the future call for astute leaders at every level. I am confident both Karl and Debbie will play critical roles in this next phase of growth as we further strengthen our internal controls, improve our corporate governance, and prepare for what’s next.”

In the 2021 holiday season, retail is anticipated to face severe labor shortages. Trax will be in 25,000+ grocery and specialty retailers from now until December 31st, providing daily coverage. Take advantage of our special holiday pricing by October 29th: https://t.co/JAFblFRUf4 pic.twitter.com/hwN1zt9kqw
— Trax (@TraxRetail) October 20, 2021

Johnsen previously served as CFO at AspenTech and held senior financial roles at Avid Technology and FusionStorm.

“It is an honour to join the Trax team and contribute to an organisation that has been shaping the retail space for more than a decade with its industry leading technologies, solutions and capabilities for the modern retail ecosystem,” he says.

“I am excited to join the leadership team to help bring to life Trax’s bold vision for the future of retail.

Simpson joins the board of directors as Audit Committee Chair. She spent nearly 20 years in a variety of global leadership roles at Boston Consulting Group, including 12 years as CFO and head of global functions.

She is also a former PwC partner where she led the Northeast region’s international tax team and served on the US board of directors.

Funding round

Earlier this year, Trax secured $640 million in a Series E financing round led by SoftBank Vision Fund 21 and BlackRock.

The round, the biggest in Trax’s history, also included new investors such as Canadian pension fund Ontario Municipal Employees Retirement System and VC firm Sony Innovation Fund.

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