February 11, 2018 - Eugene, Oregon
Prime Factors has named sales and marketing veteran, Henry A. Cheli as the company's President & Chief Executive Officer.
Henry Cheli has been working in the areas of Data Security and Network Communications for more than 35 years. He previously served as Vice President, Americas Sales and later as Vice President of Business Development for Thales eSecurity, a leader in advanced data security solutions and services.
"I am very excited to join this tremendous team that is known for creating stellar software products to protect data and help customers meet regulatory compliance,” said Mr. Cheli, who had for several years worked closely with Prime Factors, a longtime business partner for payment security, during his tenure at Thales eSecurity. “For years, I have admired their technical acumen in the area of cryptography and their products are second to none in terms of elegance and ease of deployment. In this era of connected everything, more and more companies around the world are elevating their priority for protecting data, and I believe Prime Factors, which has been helping leading brands around the world protect their sensitive information for more than 35 years, is extremely well positioned to continue to grow.”
Prior to Thales eSecurity, Henry was President of Annese & Associates (sold to ConvergeOne) and a sales and commercialization consultant for several technology firms. Henry also served as the Sr. Vice President of Sales, Marketing & Support Services at Visual Networks, a venture backed startup company that pioneered the development of software tools used for “Service Level Management” of Telco Packet Networks, where he supported their growth through Initial Public Offering (IPO).
Mr. Cheli served as General Manager of the Networking Group of Andrew Corp, where he led his division to profitability. Reporting to the Chairman of Racal-Datacom Global, while living in England, Mr. Cheli ran Business Development to facilitate Racal’s participation in the consortium to establish the British “Camelot” Lottery System. Henry also held management positions in domestic and international Sales & Marketing and as General Manager of a product division of Racal-Datacom, Inc.
Mr. Cheli’s appointment by the Board of Directors comes shortly after the company closed on the private placement of a growth capital investment round designed to better resource the commercialization of its EncryptRIGHT product line and expand its cloud offerings. Peter Flagella, who previously served as CEO, has accepted the position of Vice-President, Global Sales. “I am very pleased to have Peter Flagella on our executive leadership team,” said Henry Cheli, newly appointed President & CEO. “I have known Pete for many years, and it was very important to me to that he remained at the helm of our sales efforts. His sales experience and knowledge about Prime Factors products and customers are instrumental to both the continuity of our ongoing business as well as our plans for continued growth.”
“I am very excited to have additional resources necessary to scale the business of Prime Factors while maintaining our reputation for world class support services,” said Peter Flagella, the newly appointed VP, Global Sales. “Henry is well known for helping companies in this industry grow globally, and he and I have worked together in various capacities over the course of the past 30-plus years. I am confident that Prime Factors will continue its ongoing commitment to help simplify the safeguards of our customers sensitive data in a way that eliminates the need for complex custom development. This is a very exciting time for Prime Factors!”
About Prime Factors
Prime Factors software products help business leaders implement and manage enterprise-wide data protection policies to secure sensitive information being used by or stored in virtually any application or system. Our middleware modules quickly deploy, on premise or in the cloud, to help solve a variety of use cases for managing sensitive data, including encryption, tokenization, payment credentials, global data protection regulatory compliance and cryptographic key management. For more than 35 years, Prime Factors has served more than 1,000 global customers, including 80% of the top financial institutions in North America.