Prime Factors Welcomes New CEO Justin Teitt as Part of Leadership Transition

Leadership Transition at Prime Factors

In a major leadership transition, Prime Factors, a leader in data protection software, has announced the appointment of Justin Teitt as the new Chief Executive Officer (CEO), effective March 20, 2025. He succeeds Henry Cheli, who has served as the company's President and CEO since 2019 and will now take on the role of Executive Chairman.

The announcement was made public through a press release on March 19, 2025, as part of a long-term succession planning process. The Board of Directors expressed confidence in Teitt's ability to lead the company as it continues its journey of innovation and growth in the data protection and payment security sectors. Stephen T. McAleavey, a key member of the Board, praised Cheli's tenure, highlighting his contributions that have established a solid foundation for the company's future success.

A New Era Begins

Henry Cheli has been at the helm of Prime Factors for over six years, overseeing significant advancements in the company's offerings, including the modernization of product lines and a transition to subscription-based pricing models. His leadership style and strategic decisions have resulted in substantial growth in the company's annual recurring revenue. Cheli emphasized that the decision to appoint Teitt as CEO was made with careful consideration, citing Teitt’s integral role in shaping the company’s strategic vision since he joined the team in 2019.

As Executive Chairman, Cheli will remain actively involved in guiding the company’s strategy, mentoring the executive team, and focusing on business development particularly in global sales and distribution channels. His extensive experience in data protection will undoubtedly provide invaluable guidance during this transition.

Experience and Vision of Justin Teitt

The incoming CEO, Justin Teitt, brings a wealth of knowledge and leadership experience. Before joining Prime Factors, he held executive positions at two other companies. Since joining Prime Factors, he has been deeply involved in various aspects of the business, including marketing and operations, which equips him well for his new role.

Teitt's gratitude towards Cheli's mentorship was evident as he expressed eagerness to learn from him in his new capacity. He stated, “It is a privilege to lead a company that has such a longstanding reputation and commitment to its customers.” Under his leadership, Teitt aims to continue Prime Factors' tradition of excellence as it approaches its 50th anniversary, promising to uphold the trust placed in the organization by its global customers.

Commitment to Innovation and Growth

Prime Factors has been recognized as an applied data protection software innovator, helping clients secure sensitive information in a collaborative digital landscape. With customers spanning six continents, including many of the largest names in finance, Prime Factors holds a unique position in the market as it continues to develop solutions catered to the evolving needs of data protection amidst increasing global complexities.

As this leadership change unfolds, both Cheli and Teitt remain dedicated to steering Prime Factors towards a future rich with opportunities and collaborative growth, ensuring the organization continues to adapt and thrive in a fast-paced digital environment.

For more information about Prime Factors and its innovative solutions, visit Prime Factors or follow them on LinkedIn or X.