Agribuys Promotes Vijay Yajnik to CEO and President

TORRANCE, Calif. - Agribuys, the leading supply chain integrator for the global food industry, announced today that Vijay Yajnik has been promoted to CEO and president. He has also been elected to the board of directors of the company. Yajnik joined Agribuys this January as president and COO.

"Vijay has demonstrated a commanding grasp of what it takes to service complex multinational clients," said Doug Alexander, Agribuys board member and managing director at Internet Capital Group. "Vijay's prior experience as both a CEO in the financial services industry and as a CIO in the grocery and CPG retail world, makes him an ideal choice to lead Agribuys forward."

This management change is a result of the company transitioning from its entrepreneurial phase to one that requires seasoned leadership with experience in large-scale implementations and operations. Agribuys has recently announced several new clients and the organization is transforming itself to ensure that these clients receive world-class service.

While serving as COO, Yajnik strengthened the organization by hiring high-quality talent in key implementation, integration and operating roles. He is also credited with implementing a careful restructuring that heightened the organization's focus on key strategic priorities.

Yajnik joined Agribuys from the WorldWide Retail Exchange (WWRE). Prior to the WWRE, he was Group CIO at the Dairy Farm Group, a major Asian retailer headquartered in Hong Kong. Yajnik has also held a variety of executive management positions at Kmart, California Federal Bank, Crocker National Bank and other financial institutions.

Agribuys' founding CEO, Marina Kotsianas, will remain on the board as a director of the company. The company has no current plans to fill the COO position.
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