SANTA MONICA, Calif., Oct. 15, 2020 (GLOBE NEWSWIRE) — TrueCar, Inc. (NASDAQ: TRUE) introduced immediately that Noel Watson has resigned as Chief Monetary Officer to just accept one other enterprise alternative with a privately-held firm outdoors of the automotive vertical. Mr. Watson expects to proceed in his present place via November 16, 2020 with a purpose to guarantee a easy transition for the Firm. Charles Thomas, the Firm’s Controller, will function interim principal monetary officer till a everlasting candidate is recognized.
“We thank Noel for his important contributions to TrueCar throughout his tenure with the Firm. Noel has been instrumental in serving to us navigate a interval of speedy enterprise transformation, and in positioning the Firm for future success as we execute on our strategic imaginative and prescient of constructing the trade’s main trendy digital automobile shopping for market. We want him continued success on this subsequent chapter of his profession,” mentioned Mike Darrow, President and Chief Government Officer of TrueCar.
“Whereas immediately’s announcement is bittersweet, I’m pleased with what we’ve achieved and take consolation in figuring out that I depart TrueCar nicely positioned to ship on its strategic plans and to unlock its subsequent chapter of development,” mentioned Mr. Watson. “I’ve the utmost confidence within the TrueCar model, govt workforce and workers.”
Mr. Watson’s resignation is just not associated to any points involving the Firm’s operations, monetary statements, inside controls, insurance policies or practices. The Firm is trying ahead to asserting its monetary outcomes for the third quarter ended September 30, 2020 on Thursday, November 5, 2020, following the shut of market.
TrueCar is a number one automotive digital market that permits automobile consumers to connect with our nationwide community of Licensed Sellers. We’re constructing the trade’s most customized and environment friendly automobile shopping for expertise as we search to convey extra of the buying course of on-line. Customers who go to our market will discover a suite of car discovery instruments, worth scores and market context on new and used vehicles – all with a transparent view of what is an ideal deal. When they’re prepared, TrueCar will allow them to attach with a neighborhood Licensed Vendor who shares in our perception that fact, transparency and equity are the muse of an ideal automobile shopping for expertise. As a part of our market, TrueCar powers car-buying packages for over 250 main manufacturers, together with AARP, Sam’s Membership, and American Categorical. Practically half of all new-car consumers interact with TrueCar powered websites, the place they purchase smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with places of work in Austin, Texas and Boston, Massachusetts.