Press Releases 11.14.2005
Affinnova Names Waleed Al-Atraqchi as CEO and President
Seasoned consumer packaged goods and marketing services executive to lead company
WALTHAM, MASS. -- November 14, 2005 -- Affinnova®, Inc., which harnesses the principles of genetic evolution to optimize concepts, products and brands for consumer-focused companies, today announced it has named Waleed Al-Atraqchi as chief executive officer and president. Al-Atraqchi brings to Affinnova 20 years of experience in sales management, brand marketing and product development, as well as an extensive leadership background focused on leveraging innovation to drive business results. David Andonian, who has served as chief executive officer and chairman since June 2003, will remain as chairman of Affinnova’s Board of Directors.
"Waleed is a proven leader, one with the optimal combination of sales and marketing management and entrepreneurial expertise needed at this stage of Affinnova’s growth," said David Andonian. "His track record of elevating companies affords him keen insights into the critical success metrics needed to take our organization to the next level. He is a well-chosen addition to Affinnova’s growing roster of consumer packaged goods and marketing services experts."
"It’s imperative that companies today continuously innovate to remain competitive in their respective markets -- and the key to innovation is how effectively and how early they listen to consumers in the development process," said Waleed Al-Atraqchi. "With its unique approach to harnessing consumer insight, Affinnova is poised for tremendous growth, and I’m looking forward to taking the helm at this exciting time."
Al-Atraqchi joins Affinnova from Imagitas Corporation, a marketing services firm that helps clients communicate with hard-to-reach customer segments, where he most recently served as president. Prior to this position, Al-Atraqchi helped grow Imagitas’ client base of leading consumer and business-to-business brands as executive vice president of sales and marketing. He started with the company in 2001 as executive vice president of sales.
Al-Atraqchi began honing his brand management skills at SmithKline Beecham Consumer Health Ltd., where he developed and executed launch strategies for several consumer products. He then developed a series of innovative technology tools (patents pending) allowing marketers to offer targeted reward and incentive programs to consumers while he was SVP of sales at Catalina Marketing Corporation. At Catalina Marketing, Al-Atraqchi worked closely with top packaged goods firms, while rebuilding and expanding an entire sales and client service organization to achieve significant business growth.
Al-Atraqchi holds an M.B.A. from Carnegie Mellon Business School, where he graduated with Distinction, and a B.S. from the University of Pittsburgh.
About Affinnova, Inc.
Affinnova harnesses the voice of consumers to help companies develop more successful brands and products. Its unique, patent-pending technology uses genetic algorithms to "evolve" product designs in response to consumer preferences. Affinnova’s technology has been adopted by a growing list of blue-chip customers including eleven Fortune 500 companies. Affinnova is privately held and headquartered in Waltham, Massachusetts. For more information about Affinnova, visit www.affinnova.com.