TrueCar Announces Appointment of Jantoon Reigersman to Chief Operating Officer

Rhea-AI Summary

TrueCar (NASDAQ:TRUE) has appointed Jantoon Reigersman as Chief Operating Officer, effective March 1, 2022, adding to his current role as Chief Financial Officer. This dual role aims to enhance operational effectiveness and drive revenue growth through the TrueCar+ online marketplace. Currently in pilot in Florida, TrueCar+ is set for statewide expansion by Q2 2022. The company emphasizes innovation and improved efficiency for both consumers and dealers, contributing to the overall transformation of the automotive buying experience.

Positive

• Appointment of Jantoon Reigersman as COO expected to enhance operational effectiveness.
• Focus on expanding TrueCar+, aiming for a fully online car buying experience.
• Potential for increased revenue growth through new product offerings.

Negative

• Concerns regarding continuity and experience gaps with the leadership change.

SANTA MONICA, Calif., Feb. 23, 2022 /PRNewswire/ -- TrueCar, Inc., (NASDAQ:TRUE), the easiest, most efficient and transparent online destination for buying and selling new and used vehicles, today announced that its Chief Financial Officer, Jantoon Reigersman, has also been appointed Chief Operating Officer, effective March 1, 2022. As COO, Reigersman will play a more significant role driving TrueCar's transformation by seeking to improve operational effectiveness and fulfillment, in order to drive future revenue growth through new products and services. 

In this role, Reigersman will focus on the rollout and adoption of TrueCar+, a two-sided marketplace that aims to bring the car buying experience fully online. TrueCar+ is currently in pilot in Florida, with plans for full statewide coverage for new and used vehicles by the end of second quarter.    

"As our Chief Financial Officer, Jantoon has been a key contributor to developing our business strategy and advancing new key initiatives and offerings, including TrueCar+. This appointment allows him to expand his contributions to accelerate our growth and transformation," said Mike Darrow, President and CEO of TrueCar.

Reigersman joined TrueCar in January 2021 as Chief Financial Officer, after serving as CFO for Leaf Group, an NYSE-listed diversified internal, media and ecommerce company.  "I'm excited to take on this expanded role at such a pivotal time for the company," Reigersman said. "TrueCar+ is an innovative product offering that will  revolutionize the car-buying experience for consumers, while simultaneously helping our dealer customers achieve greater efficiency," he added.  

Reigersman's appointment will assure TrueCar remains focused on innovation that can be quickly scaled and delivers value to dealers and consumers.

About TrueCar

TrueCar is a leading automotive digital marketplace that enables auto buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient auto buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new and used cars – all with a clear view of what's a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency and fairness are the foundation of a great auto buying experience. As part of our marketplace, TrueCar powers auto-buying programs for over 250 leading brands, including AARP, Sam's Club, Navy Federal Credit Union and American Express. TrueCar is headquartered in Santa Monica, California, with an office in Austin, Texas.

For more information, please visit www.truecar.com, and follow us on LinkedIn, Facebook or Twitter. Email: pr@truecar.com

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SOURCE TrueCar.com

FAQ

What is the significance of Jantoon Reigersman's appointment as COO at TrueCar?

Jantoon Reigersman's appointment as COO is significant as it combines his financial expertise with operational leadership, aiming to drive the company's transformation and revenue growth.

What is TrueCar+ and how is it progressing?

TrueCar+ is an innovative online marketplace currently in pilot in Florida, with plans to expand statewide by the end of Q2 2022.

When did Jantoon Reigersman join TrueCar?

Jantoon Reigersman joined TrueCar as CFO in January 2021 before being appointed COO.

What changes can investors expect from TrueCar under Jantoon Reigersman's leadership?

Investors can expect a focus on operational improvements and new product offerings that could enhance revenue and efficiency in the car-buying process.