Profitect Names New CEO

WALTHAM, Mass., June 17 /PRNewswire/ -- As part of its continued expansion, Profitect , a global provider of software solutions allowing retailers to increase profits through compliance assurance and prevention of supply chain leakage, point of sales fraud, waste and operational damages, announced today that Guy Yehiav will join Profitect as Chief Executive Officer, and that the Company's operational headquarters will move to Waltham, Massachusetts.  

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Guy Yehiav, who was recently named CEO of Profitect, brings a strong technological and marketing leadership to his new position. He believes that the American retailing market is ready for Profitect's advanced technology that is generating increased profitability for retailers in Europe, Asia and South Africa.

Prior to his new position, Guy Yehiav served as Vice President Sales & Strategy for Oracle's Value Chain Planning Solutions where he was responsible for sales, strategy and customer success for clients such as Kodak, Apple, PepsiCo, Welch's, Sara Lee, Tootsie Roll, CarQuest, 20th Century Fox, VTech, Johnson and Johnson, Timex and more. Guy was also founder of Demantra US, a leading global provider of demand-driven planning solutions, which was acquired by Oracle in 2006. Previously, he directed the Global Professional Service Group where he was in charge of creating methodologies and infrastructure through value chain transformations that enabled demand driven and seamless operations for fortune 1000 companies.

Guy Yehiav succeeds David Even-Haim in this role. David, Founder and CEO will assume the position as Chief Operating Officer where he will be focusing on leading Profitect's implementation activities and delivering customer success.

"I am very excited about the opportunity at Profitect," said Guy Yehiav, CEO of Profitect. "The retail industry experiences losses of 1-2% of revenue due to leakage, operational damages, and process failure, an annual US retail loss of $41B. Profitect delivers 15-25% sustainable loss reduction, which drives a significant impact to retailer's bottom line.  With Profitect's comprehensive Enterprise Suite, I will help position the company to capitalize on the growing market opportunity and deliver sizeable loss reduction benefits to retailers worldwide."

Profitect also announces that it will move its operational headquarters to Waltham, Massachusetts which is now the primary location for operations, sales, and marketing. The Israeli subsidiary of Profitect will remain Profitect's center for R&D, and will continue to serve as center of sales, operations and support for our customers and partners in Europe, Asia and South Africa. "Profitect's client base and reputation continue to grow, the fact that Profitect is relocating its operational headquarters to Massachusetts will support our business expansion and presence in the US," concluded Guy Yehiav.

About Profitect

Profitect offers a comprehensive suite of software solutions for increased profit through loss prevention, fraud detection and compliance assurance for retailers.  Profitect solutions deliver sustainable loss reduction of 15%-25% for retailers worldwide. The Profitect Enterprise Suite is modular, providing pin-pointed analysis and action guidance, covering all operational areas of retail enterprises. The Profitect team's expertise acquired through 13 years of successfully reducing losses for retailers worldwide, delivers high and immediate ROI supported by modular, quick, non-disruptive deployment of modern, scalable technology. These solutions provide for increased efficiency of loss prevention staff resources and improved operational compliance.

Supermarket, Convenience Store, General Merchandise, Department Store and Fashion chains in the UK, Asia, and South Africa are using Profitect solutions to reduce leakage, improve operational processes, and improve analyst efficiency and business intelligence.

For more information visit http://www.Profitect.com or call 888-586-8471.

SOURCE Profitect