InterPrivate II Acquisition Corp. Elects former Yahoo! President Susan Decker, Venture Capitalist Jeffrey Harris and ex-Citi Private Bank Chair Tracey Brophy Warson as Independent Directors

Rhea-AI Summary

InterPrivate II Acquisition Corp. (NYSE: IPVA.U) announced the appointment of three independent directors: Susan L. Decker, Jeffrey Harris, and Tracey Brophy Warson on March 4, 2021. Decker, an experienced leader with a history at Yahoo! and other major corporations, along with Harris, a venture capitalist, and Warson, a former CEO at Citi Private Bank, bring significant expertise. Their roles include contributions to the Audit, Compensation, and Nominating and Corporate Governance Committees. This strategic move is aimed at strengthening the company as it seeks a business combination.

Positive

• Appointment of experienced independent directors enhances governance.
• Directors possess expertise across multiple industries, potentially aiding business combination efforts.
• Strategic committee appointments for effective oversight.

Negative

• None.

NEW YORK, March 16, 2021 /PRNewswire/ -- InterPrivate II Acquisition Corp. (NYSE: IPVA.U) (NYSE: IPVA) (NYSE: IPVA WS) (the "Company") announced today that Susan L. Decker, Jeffrey Harris and Tracey Brophy Warson were appointed to the board of directors of the Company (the "Board") on March 4, 2021, in connection with the Company's initial public offering. Ms. Decker, Mr. Harris, and Ms. Warson are independent directors. InterPrivate II Acquisition Corp. is led by Chairman and CEO Ahmed Fattouh; Executive Vice Presidents Brian Pham and Alan Pinto; General Counsel Brandon Bentley; and Vice President James Pipe.

Susan L. Decker is the CEO and founder of Raftr, a trusted event and communications platform for college campuses. She also serves on the boards of directors of Berkshire Hathaway Corporation, Costco Wholesale Corporation, SurveyMonkey, Vail Resorts, Vox Media and Automattic, and she has previously served on the boards of Intel Corporation and Pixar Animation Studios, among others. From June 2000 to April 2009, Ms. Decker held various executive management positions at Yahoo! Inc., including president (June 2007 to April 2009), head of the Advertiser and Publisher Group (December 2006 to June 2007), and chief financial officer (June 2000 to June 2007). Before Yahoo!, Ms. Decker spent 14 years with Donaldson, Lufkin & Jenrette as Managing Director of global equity research (1998 to 2000), and previously as an equity research analyst (1986 to 1998). She received the designation of Chartered Financial Analyst in 1989 and served on the Financial Accounting Standards Advisory Council (FASAC) for a four-year term, from 2000 to 2004.

Jeffrey Harris is the founder and managing member of Global Reserve Group LLC, a financial advisory and investment firm founded in 2011 focused primarily on the energy industry. From 1983 to 2011, he worked at Warburg Pincus LLC and was a Managing Director and member of the Executive Management Group. During his tenure he invested in numerous companies across sectors including energy, technology, telecommunications, industrial, and consumer/retail, and has served as a director of over forty public and private companies, including Chargepoint. Currently, he is a director of Knoll, Inc. and several private companies. In addition, Mr. Harris is a member of the Board of Trustees of each of the Cranbrook Educational Community, New York-Presbyterian Hospital and Friends of the High Line. He was an adjunct professor at Columbia Business School for thirteen years and is a past chairman of the National Venture Capital Association.

Tracey Brophy Warson is an advisor to startups in FinTech, clean energy, and food sustainability with more than 30 years of experience building financial services businesses. Most recently, Ms. Warson was CEO of Citi Private Bank from 2014-2019, and she served as Chairman of Citi Private Bank North America from 2019-2020. As CEO of Citi Private Bank in North America, Ms. Warson was directly responsible for leading the ultra-high net worth and Law Firm Group private banking activities in 25 offices throughout North America, overseeing over $230 billion in client business volume as of year-end 2018. Prior to her role as CEO, she was Global Market Manager for the Western U.S. from 2010 to 2014. From 2014-2018, Ms. Warson was the co-chair of Citi Women, Citi's global strategy to focus on the advancement of women as leaders and business drivers. Before joining Citi in 2009, Ms. Warson held  a number of executive positions at Wells Fargo and Toyo Trust and Banking. Since 2015, Ms. Warson has been recognized each year by the American Banker as of one of the top "25 Most Powerful Women in Finance." Additionally, in 2018, the Financial Times recognized Ms. Warson as an "FTHero" in their ranking of the Top 100 executives globally who support women in business.

"We are excited to welcome Sue, Jeff and Tracey to our Board.  Their wealth of experience as investors and operating executives should be extremely valuable to the Company as we conduct our search for a suitable business combination," said Ahmed Fattouh.

Mr. Harris was appointed to the Board's Audit Committee, serving as chair of the Audit Committee, Ms. Decker and Ms. Warson were appointed to the Board's Compensation Committee, with Ms. Warson serving as chair of the Compensation Committee and Mr. Harris and Ms. Decker were appointed to the Board's Nominating and Corporate Governance Committee, with Ms. Decker serving as chair of the Nominating and Corporate Governance Committee.

About InterPrivate II Acquisition Corp.

InterPrivate II Acquisition Corp. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue initial business combination targets in any industry, the Company may pursue sectors including auto-tech and mobility, business services, consumer, retail, e-commerce or industrial technology, or businesses that possesses their own differentiated technology, with a focus on target companies with an enterprise value of $1 billion or more.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the Company's search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Press Contact:
Charlotte Luer, Marketing
cluer@interprivate.com  
Tel: +1-212-634-0826  

 

 

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SOURCE InterPrivate II Acquisition Corp.

FAQ

What recent board appointments were made at InterPrivate II Acquisition Corp. (IPVA.U)?

InterPrivate II Acquisition Corp. appointed Susan L. Decker, Jeffrey Harris, and Tracey Brophy Warson as independent directors on March 4, 2021.

What are the roles of the new directors at InterPrivate II Acquisition Corp.?

Susan L. Decker and Tracey Brophy Warson are on the Compensation Committee, with Warson as chair, while Jeffrey Harris chairs the Audit Committee.

Why are the new appointments significant for IPVA.U?

The appointments are significant due to the directors' extensive industry experience, which may provide valuable insights during the search for a business combination.

What is the main focus of InterPrivate II Acquisition Corp.?

InterPrivate II Acquisition Corp. focuses on merging with or acquiring companies valued at $1 billion or more across various sectors, including auto-tech, consumer, and technology.