RumbleOn, Inc. Mourns the Passing of Steven Berrard, Chief Financial Officer and Director of the Company

Rhea-AI Summary

RumbleOn, Inc. (NASDAQ: RMBL) announces the tragic passing of CFO Steven Berrard on Monday evening. Chairman and CEO Marshall Chesrown expressed profound sorrow and extended condolences to Berrard's family. Berrard was a pivotal figure at RumbleOn, recognized for his extensive experience and dedication, including his vision for the company’s merger with RideNow. Company leadership gathered in Charlotte to support Berrard's family. RumbleOn, founded in 2017, is innovating the pre-owned vehicle market through e-commerce solutions.

Positive

• Steve Berrard was instrumental in driving RumbleOn's strategic vision, particularly in the upcoming merger with RideNow.

Negative

• The unexpected passing of a key executive like Steven Berrard may create uncertainty around the company's leadership and strategic direction.

RumbleOn, Inc. (NASDAQ: RMBL) announces the unexpected passing of Steven Berrard, the Company’s Chief Financial Officer and a member of the Board of Directors, on Monday evening.

“It is with great sadness that we announce the passing of our dear friend, Steve Berrard. On behalf of the RumbleOn family, its Board of Directors and management team, we extend our deepest sympathies to Steve’s wife, his five children, and his family, all of whom he deeply cherished,” said Marshall Chesrown, RumbleOn’s Chairman and Chief Executive Officer.

“Steve was a larger-than-life figure who brought his remarkable experience and passion to RumbleOn. He was, and always will be, the symbol of RumbleOn’s core values and dedication to our employees, partners, and the powersports enthusiasts who embraced our mission. Steve was truly a business visionary who saw our pending combination with RideNow as the culmination of his life’s work. We can do him no greater honor than to continue his work and complete what we have begun,” concluded Marshall.

RumbleOn’s key leadership is meeting in Charlotte, North Carolina today to support Steve’s wife and children. The Company remains resolute in its, and Steve’s, vision for RumbleOn, and we will share additional information in the coming days.

Steve was the co-founder and Co-Chief Executive Officer of AutoNation from 1996 to 1999. Before joining AutoNation, Steve served as President and Chief Executive Officer of the Blockbuster Entertainment Group, at the time the world's largest video store operator. Steve served as President of Huizenga Holdings, Inc., a real estate management development company, and served in various positions with subsidiaries of Huizenga Holdings, Inc. from 1981 to 1987. Steve began his career at Coopers & Lybrand (now PricewaterhouseCoopers LLP) in 1976.

About RumbleOn

Founded in 2017, RumbleOn (NASDAQ: RMBL) is an e-commerce company using innovative technology to aggregate and distribute pre-owned vehicles, 100% online. RumbleOn is disrupting the pre-owned vehicle supply chain by providing dealers with technology solutions such as virtual inventory, and a 24/7 distribution platform, and consumers with an efficient, timely and transparent transaction experience, without leaving home. Whether buying, selling, trading or financing a vehicle, RumbleOn enables dealers and consumers to transact without geographic boundaries in a transparent, fast and friction free experience. For more information, please visit http://www.rumbleon.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210608005713/en/

FAQ

What happened to Steven Berrard of RumbleOn?

Steven Berrard, the CFO of RumbleOn (NASDAQ: RMBL), passed away unexpectedly on Monday evening.

Who was the CFO of RumbleOn before his passing?

The CFO before his passing was Steven Berrard.

How did RumbleOn react to the passing of Steven Berrard?

RumbleOn expressed deep sadness and extended condolences to his family, emphasizing his contributions to the company.

What impact does Steven Berrard's death have on RumbleOn?

Berrard's passing may create uncertainty in the company's leadership and strategic initiatives.

What is RumbleOn known for?

RumbleOn is known for its e-commerce platform that revolutionizes the buying and selling of pre-owned vehicles.