DALLAS--(BUSINESS WIRE)--Allegro Development Corporation, a leading provider of commodity value chain and risk management (CVCRM) software, announced today the appointment of Gary Ito as its Chief Financial Officer (CFO).
Ito is a seasoned executive with approximately 30 years of experience in the technology sector and will be responsible for Allegro’s worldwide financial operations. He joins from MDS Financial Group, a private financial consulting firm providing CFO and Board advisory services, where he served as Managing Director. Prior to MDS Financial Group, he was CFO at INTTRA, the world’s largest, multi-carrier e-commerce logistics network for the ocean shipping industry.
Ito previously served as CFO of Quadrem, where he took the company from start-up mode to positive earnings and cash flow. This continuing profitable growth resulted in Quadrem’s successful strategic sale to Ariba in 2010. Following the sale, Ito remained at Ariba serving as the Customer Management Organization division’s CFO and head of operations. In this role he helped Ariba achieve record revenues and operating metrics, leading to the company’s sale to SAP in 2012.
“Gary is a great addition to our team and has a proven track record of implementing innovative financial and business management strategies, including acquisitions, which will serve Allegro well in the next stage of our growth,” said Ray Hood, Allegro Chief Executive Officer (CEO).
Ito began his career at Nortel, where for 18 years he held a variety of finance and general management positions in both North America and Asia. He received a Bachelor of Applied Science in Chemical Engineering from the University of Toronto and an MBA from Queen’s University at Kingston. Ito also holds the CPA, CMA (Ontario, Canada) designation.
“It is an honor to join Ray and the team at Allegro,” said Ito. “I am excited to be at the forefront of such a dynamic industry and to work with my colleagues around the world to continue Allegro’s growth initiatives.”
About Allegro Development
Allegro is a leading provider of commodity value chain and risk management (CVCRM) software for power and gas utilities, refiners, producers, traders and commodity consumers. With more than 30 years of deep industry expertise, Allegro provides real-time intelligence and decision-making capabilities, from the source of the commodity (ground), through transportation, to the commodity consumer. Allegro’s software provides the global intelligence companies need to manage physical and financial positions, and to optimize their assets and portfolios using tools that quantify and mitigate risks. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners.
For further information please contact Samantha Johnston at media@allegrodev.com or +1.214.237.8149.
