Hagerty Announces Capital Markets Veteran Jay Koval to Lead Investor Relations

Rhea-AI Summary

Hagerty (NYSE: HGTY) has appointed Jay Koval as Senior Vice President of Investor Relations, a new role aimed at enhancing the company's investor engagement. Reporting to CFO Frederick J. Turcotte, Koval will focus on building relationships with the investment community and communicating Hagerty's strategy for value creation. With over 20 years of capital markets experience, Koval previously developed investor relations programs at Brown-Forman and Starwood Hotels and Resorts, significantly increasing their market capitalizations.

Positive

• Jay Koval's appointment is expected to enhance investor relations and communication strategies.
• Koval has a strong track record of improving investor relations, evidenced by market capitalization increases at previous companies.
• Hagerty's focus on the global automotive enthusiast market positions it for profitable growth.

Negative

• None.

TRAVERSE CITY, Mich.--(BUSINESS WIRE)-- Hagerty (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, today announced Jay Koval as its Senior Vice President of Investor Relations.

In this newly created role, Koval will guide the development of the company’s investor relations (IR) function for Hagerty. He will report to Chief Financial Officer Frederick J. Turcotte, collaborating closely with senior leaders across the company. His focus will be to build relationships with the investment community and communicate the differentiated strategy that positions Hagerty to drive value creation over the coming years.

“We are very excited to welcome Jay into this strategic position at Hagerty,” said Turcotte. “He brings outstanding credentials and expertise to our investor relations efforts, has a fantastic perspective on the dynamics of a publicly traded company from an investor point-of-view, and he understands how to build and grow a highly effective investor relations program.”

Koval’s wealth of investor relations expertise was cultivated from prior IR lead roles and more than two decades of capital markets experience. In addition to helping newly listed public companies develop their IR functions over the last three years, Koval created world-class IR programs at Brown-Forman, a leading U.S. spirits company, and Starwood Hotels and Resorts, a global lifestyle brand company.

During his tenure at Brown-Forman from 2012 to 2019, strong multiple outperformance was achieved by simplifying the company’s investor messaging and globalizing the shareholder base, resulting in a tripling of the company’s market capitalization. At Starwood, Koval led the investor relations function from 2006 to 2012, helping the company achieve a first-place ranking among gaming and lodging companies by Institutional Investor magazine.

Prior to his investor relations engagements, Koval worked as a buy-side analyst at Invesco Funds Group, as well as a sell-side analyst at Bank of America Securities. Koval began his career on Wall Street working in investment banking at JP Morgan on their consumer/retail team.

“I am excited to join Hagerty and help this exciting, forward-leaning company communicate its value proposition to investors,” said Koval. “There are roughly 43 million collectible vehicles in our U.S. total addressable market, and even more globally, positioning us well to deliver high rates of sustained, profitable growth over the coming decade. As a car enthusiast, I’m looking forward to collaborating with industry leaders who are passionately focused on saving driving and car culture for future generations.”

About Hagerty, Inc. (NYSE: HGTY)

Based in Traverse City, Michigan, Hagerty's purpose is to save driving and car culture for future generations and its mission is to build a global business to fund that purpose. Hagerty is an automotive enthusiast brand offering integrated membership products and programs as well as a specialty insurance provider focused on the global automotive enthusiast market. Hagerty is home to Hagerty Drivers Club, DriveShare, Hagerty Valuation Tools, Hagerty Media, Hagerty Drivers Club magazine, MotorsportReg, Hagerty Garage + Social, The Amelia, the Concours d'Elegance of America, the Greenwich Concours d'Elegance, the California Mille, Motorlux, the Hagerty Drivers Foundation and more. For more information on Hagerty, please visit www.hagerty.com, or connect with us on Facebook, Instagram and Twitter.

More information can be found at newsroom.hagerty.com.

Category: Corporate News

Source: Hagerty

View source version on businesswire.com: https://www.businesswire.com/news/home/20220623005327/en/

Hagerty Media

Bobby Hammelman, bhammelman@id-pr.com, 917-572-6906

Andrew Heller, Hagerty, aheller@hagerty.com, 231-632-1583

Source: Hagerty

FAQ

What is the recent announcement by Hagerty (NYSE: HGTY)?

Hagerty announced the appointment of Jay Koval as Senior Vice President of Investor Relations.

Who is Jay Koval in relation to Hagerty (NYSE: HGTY)?

Jay Koval is the newly appointed Senior Vice President of Investor Relations at Hagerty.

What experience does Jay Koval bring to Hagerty (NYSE: HGTY)?

Koval has over 20 years of capital markets experience, having developed successful investor relations at companies like Brown-Forman and Starwood Hotels.

How is Hagerty positioned for future growth?

Hagerty aims to leverage its focus on the global automotive enthusiast market, which includes approximately 43 million collectible vehicles in the U.S.

What role will Jay Koval play at Hagerty (NYSE: HGTY)?

Koval will guide the development of the investor relations function and communicate the company’s value creation strategy.