Convoy Appoints Sonia Jain as Chief Financial Officer

Rhea-AI Summary

Convoy has appointed Sonia Jain as its new Chief Financial Officer, effective April 25, 2022. Jain, who previously served as CFO at Cars.com (NYSE: CARS), brings over 15 years of finance leadership experience, including significant roles at Redbox and Morgan Stanley. Her expertise in finance and strategic planning is expected to drive Convoy’s growth as the company aims to transform the freight industry. Jain expressed enthusiasm for Convoy's mission and its potential for future growth.

Positive

• Sonia Jain brings over 15 years of finance experience to Convoy.
• Her prior role as CFO of Cars.com suggests strong financial acumen.
• Jain's experience includes impactful leadership in significant acquisitions.

Negative

• Potential continuity concerns as Jain transitions from Cars.com to Convoy.
• Experience gaps may arise due to the shift in leadership.

SEATTLE--(BUSINESS WIRE)-- Convoy, the nation’s leading digital freight network, today announced that Sonia Jain has been appointed Chief Financial Officer, effective April 25, 2022. Jain will assume the role from Convoy’s President & Chief Operating Officer, Mark Okerstrom, who has served as acting CFO since December 2020. In this role, Jain will leverage her 15+ years of experience in finance leadership and strategy roles to oversee Convoy’s finance function. Jain will report directly to Mark Okerstrom.

Jain joins Convoy from Cars.com (NYSE: CARS), where she has been Chief Financial Officer since 2020. Sonia has extensive expertise in accounting, finance & analytics, treasury, investor relations and strategic planning. Prior to joining Cars.com, Jain spent 10 years with Redbox/Outerwall and prior to that spent several years at both Morgan Stanley and McKinsey & Company. During her tenure as Redbox’s finance chief, Sonia was instrumental in the company’s acquisition by Apollo Global Management and played a critical leadership role in the successful launch of its Redbox On Demand online video store.

“We’re so excited to have Sonia join Convoy as our Chief Financial Officer,” said Mark Okerstrom, President & COO of Convoy. “Sonia’s hands-on, operational-finance capabilities together with her strategic finance leadership experience in both private and public company contexts make her the ideal choice to lead Convoy’s finance function through our next chapter of growth. I look forward to partnering with Sonia as Convoy continues to lead the digital transformation of freight.”

“Convoy has a massive market opportunity and a world-class team that I am excited and honored to be joining," said Sonia Jain, incoming Convoy Chief Financial Officer. “Convoy’s mission is big and never more important than it is today - to transport the world with endless capacity and zero waste. That mission combined with the company’s values, its incredible team and the opportunity to help Convoy achieve its enormous growth potential, drove me to jump at the opportunity to join the team.”

About Convoy
Convoy is the nation’s leading digital freight network. We move thousands of truckloads around the country each day through our optimized, connected network of carriers, saving money for shippers, increasing earnings for drivers, and eliminating carbon waste for our planet. We use technology and data to solve problems of waste and inefficiency in the $800B trucking industry, which generates over 87 million metric tons of wasted CO2 emissions from empty trucks. Fortune 500 shippers like Anheuser-Busch, P&G, Niagara, and Unilever trust Convoy to lower costs, increase logistics efficiency, and achieve environmental sustainability targets.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220418005152/en/

Media Contact:

Sarah Bergstrom-Leach

425-381-0665

Source: Convoy

FAQ

Who is the new Chief Financial Officer of Convoy?

Sonia Jain has been appointed as the Chief Financial Officer of Convoy, effective April 25, 2022.

What was Sonia Jain's position before joining Convoy?

Prior to joining Convoy, Sonia Jain was the Chief Financial Officer at Cars.com (NYSE: CARS) since 2020.

What experience does Sonia Jain bring to Convoy?

Sonia Jain brings over 15 years of experience in finance leadership, including roles at Redbox and Morgan Stanley.

Why did Sonia Jain decide to join Convoy?

Jain was attracted to Convoy's mission and its growth potential in the digital freight network.

When did Sonia Jain start her role at Convoy?

Sonia Jain officially starts her role as Chief Financial Officer on April 25, 2022.