MUSA Auto Finance appoints new CEO and President
MUSA Auto Finance has appointed Jon Lamb as the new CEO, while retaining his role as President of DRIVRZ™ US, a platform for automotive transactions. Lamb has a strong background as an entrepreneur and executive in the automotive sector, coupled with military experience in the U.S. Navy. Craig Vaughn has also joined as President, bringing extensive experience from his tenure in various automotive roles. Both appointments aim to enhance MUSA's leadership and operational excellence, supporting its mission as a fintech innovator in auto finance.
- Jon Lamb's extensive executive experience in automotive and marketing industries is expected to drive innovation.
- Craig Vaughn's background in automotive operations will strengthen company leadership.
- Potential continuity risks may arise with leadership changes.
DALLAS, April 8, 2021 /PRNewswire/ -- MUSA Auto Finance, an automotive finance and technology lender specializing in effortless leasing, has announced two new executives in the roles of chief executive officer and president.
Jon Lamb is now CEO of MUSA Auto Finance. He also remains President of DRIVRZ™ US, a platform enabling consumers to buy, sell, lease or trade their vehicle from a smartphone. DRIVRZ™ US is an initiative of PowerBand Solutions, which acquired MUSA in 2019.
Lamb is a proven executive and entrepreneur in the automotive and marketing industries, with numerous exits to his credit. He has served in CEO and President roles with Brickell.IO, Privatized Capital, Hundy Inc, Transparent AI and Visible Customer. Lamb also has a distinguished record for military service in the United States Navy as a high-tech, weaponry specialist on nuclear submarines.
He is an active board member and advisor to multiple ad tech and fintech organizations as well as a valuable asset to industry-leading automotive retailers, OEMs, digital marketplaces, and fintech start-ups through his private equity and advisory firm in Miami. Lamb is widely recognized for his accomplishments in technologies, business strategy, product development, marketplaces, and capitalization.
Kelly Jennings, CEO of PowerBand, commented, "Jon Lamb is a world-class entrepreneur whose execution skills have literally taken him from leadership roles on nuclear submarines to the executive suite. His precision and execution are unsurpassed."
MUSA also welcomes Craig Vaughn in his new role as President. Vaughn brings senior executive experience leading national and regional variable and fixed operations business units for public and privately owned organizations, including Asbury Automotive, a Fortune 500 retailer.
In addition, he spent two years in Beijing, China, as Vice President Variable Operations for NCGA / Yan Jun Auto. In those assignments, Vaughn developed meaningful relationships with a substantial number of the largest public and private dealership, finance, insurance, and warranty groups in the United States.
Jennings said of Vaughn's new role, "Craig Vaughn brings an enviable wealth of knowledge and experience in the automotive, consumer, finance and warranty sectors. We are looking forward to his leadership as a key factor in MUSA's continued development and success."
About MUSA Auto Finance
MUSA Auto Finance is an auto finance company and a technology innovator in the new and pre-owned vehicle industry. The company originates its customers from franchised and select independent dealers.
Since its inception, MUSA has automated the time-consuming, manual processes traditionally associated with leasing and buying a vehicle. One of MUSA's technology platforms processes the application, calculates the lease, auto-decisions the application, provides an approval back to the dealer partner, and accurately pre-fills the lease contract in seconds. Automated approvals normally occur in just a few seconds, and consumers can even upload supporting documents via their mobile device.
In 2019, MUSA partnered with PowerBand Solutions, Inc. (TSXV: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA) ("PowerBand", "PBX" or the "Company").
For more information, visit www.musaautofinance.com.
About PowerBand Solutions, Inc.
PowerBand Solutions Inc., listed on the TSX Venture Exchange and the OTCQB markets, is a fintech provider disrupting the automotive industry. PowerBand's integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, funders, and manufacturers (OEMs). It enables them to buy, sell, trade, finance, and lease new and used, electric- and non-electric vehicles, on smart phones or any other online digital devices, from any location. PowerBand's transaction platform - being trademarked under DRIVRZ™ - is being made available across North American and global markets.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as at the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
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SOURCE MUSA Auto Finance
FAQ
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