Washingtoner - TrueCar Announces New Leadership Appointments

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SANTA MONICA, Calif., Sept. 26, 2023 ~ TrueCar, Inc., a leading online destination for buying and selling new and used vehicles, has announced new leadership appointments and role changes. Oliver Foley is joining TrueCar as Chief Financial Officer, replacing Teresa Luong. Jay Ku will be shifting roles from Chief Commerce Officer to Chief Revenue Officer, while Lisa Hess is promoted to Head of Sales.

Foley will start at TrueCar on October 30 and will be responsible for the company's financial strategy, accounting operations, corporate finance, tax compliance and investor relations. He has spent over 10 years in senior corporate finance and strategy roles across several high-growth consumer brands. He joins TrueCar from Flexcar, LLC, a leading vehicle-subscription business in the U.S., where he led the Finance and Accounting, Risk and Analytics teams responsible for shaping the company's long-term business strategy and growth objectives.

As Chief Revenue Officer, Ku will oversee Dealer Sales and Retention, Wholesale, Affinity Network, and OEM Solutions in addition to existing oversight of marketing and communications. Hess will lead TrueCar's field sales team for both franchise and independent dealers as well as the supporting sales functions. She has nearly 30 years of automotive industry experience in dealer leadership positions.

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Jantoon Reigersman, President and CEO of TrueCar said: "We're thrilled to welcome Oliver to the TrueCar team as we build an organization that will continue to deliver deliberate, innovative, and exciting products for both consumers and dealers. We are also excited to promote Lisa who has been pivotal to the success and growth of our dealer partner network. Jay's new role will be principally dedicated to TrueCar's tremendous revenue growth opportunity."

TrueCar has made significant changes in its leadership structure with Oliver Foley joining as Chief Financial Officer replacing Teresa Luong; Jay Ku shifting roles from Chief Commerce Officer to Chief Revenue Officer; while Lisa Hess is promoted to Head of Sales.

Foley brings over 10 years of experience in senior corporate finance roles across several high-growth consumer brands from his previous role at Flexcar LLC where he led the Finance & Accounting teams responsible for shaping the company's long-term business strategy & growth objectives.

As Chief Revenue Officer Ku will oversee Dealer Sales & Retention; Wholesale; Affinity Network; & OEM Solutions along with existing oversight of marketing & communications while Hess takes on responsibility for leading TrueCar's field sales team for both franchise & independent dealers along with supporting sales functions with her nearly 30 years of automotive industry experience in dealer leadership positions.

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Reigersman expressed his enthusiasm about these changes saying: "We're thrilled to welcome Oliver to the TrueCar team as we build an organization that will continue to deliver deliberate innovative & exciting products for both consumers & dealers." He further added: "We are also excited to promote Lisa who has been pivotal to the success & growth of our dealer partner network."

The changes made by TrueCar are expected to bring about significant improvements in their financial strategies; accounting operations; corporate finance; tax compliance; investor relations; marketing & communications along with their overall revenue growth opportunities which should help them achieve their goals more efficiently than before.

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