ArrowStream CEO Name Finalist for ITA CityLIGHTS Award
Founder of supply chain technology leader honored for vision, leadership & proven growth
Chicago, IL April 8, 2010 – Steven LaVoie, founder and CEO of ArrowStream, a leading provider of supply chain management solutions for the foodservice industry has been named a finalist for an Illinois Technology Association (ITA) CityLIGHTS award, in the CEO of the Year category.
ITA presents the award to an Illinois-based technology leader who contributed to the business development of his/her technology company over the past year. Leadership qualities such as entrepreneurship, community involvement, and management expertise are considered in the judging process.
ITA selected LaVoie for the supply chain vision he articulated when founding ArrowStream in 2000. His vision, coming to fruition in multiple companies, is for a foodservice supply chain that uses technology to share information and integrates all trading partners in a supply chain Network. Under LaVoie’s leadership, the company achieved considerable growth in its first decade at a compound annual growth rate (CAGR) of 39 percent for the past three years. In 2009 Crain’s Chicago Business named ArrowStream the fourth fastest growing company in Chicago, and Inc. Magazine ranked ArrowStream #867 on the Inc. 5000 list of fastest growing private companies.
“While this honor is for individual contribution, it truly belongs to the employees of ArrowStream and our clients who have brought a vision to life. It is their achievements that built the ArrowStream Network and have shown that synchronized supply chains benefit all trading partners,” said Steven LaVoie, CEO and founder of ArrowStream, Inc.
ITA will present several awards at its 11th annual CityLIGHTS Gala on April 29 at Chicago Union Station. More than 700 entrepreneurs, investors, corporate executives, and technology champions from the breadth and depth of Illinois business are expected to attend.
A group of judges who represent various sectors of Illinois’ business community select the ITA CityLIGHTS finalists. The award winners are then chosen by a vote of members of Illinois’ business community. Voting takes place online between April 5-15 at http://www.itacitylights.org/vote.html.
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About ArrowStream
ArrowStream is committed to helping customers and their supply chain partners improve operations and the bottom line. ArrowStream transforms the food supply chain through patented, innovative solutions that help trading partners achieve results collectively that they could not reach individually. The company’s Network is the largest, most extensive collection of restaurant chains, distributors and manufacturers in the food industry. More than $15 billion of product moves through and is tracked in the ArrowStream Network providing operational efficiencies, economies of scale and financial benefits to all trading partners in it. Founded in 2000, ArrowStream quickly earned a reputation as a premier provider of supply chain solutions for the foodservice industry serving blue-chip customers such as Wendy’s, Church’s Chicken, Steak n Shake, and ARCOP, Arby’s purchasing cooperative group. ArrowStream customers represent nearly 20% of the top 50 U.S. chains in Nation’s Restaurant News 2009 Top 200 chains by sales.
About the ITA
Illinois Technology Association (ITA) is passionately committed to the successful growth of our member-companies and the regional technology industry. ITA champions the interests of start-ups and industry leaders, innovation agents and students as independent and collaborative thought leaders who leverage the power of technology to transform business. Through fostering strategic development, peer-to-peer leadership, networking, and access to experts across the breadth of business, membership in ITA accelerates the realization of success. For more information about ITA, please visit www.illinoistech.org