TrueCar Appoints Brendan Harrington to its Board of Directors

Rhea-AI Summary

TrueCar announced the election of Brendan Harrington to its Board of Directors, effective October 27, 2022, following the resignation of Wesley Nichols. Harrington, currently General Manager of Capistrano Valley Toyota, brings extensive automotive retail experience, including previous roles at Penske Motor Group and Mercedes-Benz USA. TrueCar's Board now includes eight directors, with three women and seven independent members, aiming to enhance insights for the company's growth in the automotive digital marketplace.

Positive

• Brendan Harrington's extensive automotive retail experience is expected to provide valuable insights.
• The Board maintains a strong independent presence with 7 independent directors.

Negative

• The resignation of Wesley Nichols may raise concerns regarding continuity on the Board.

SANTA MONICA, Calif., Nov. 1, 2022  /PRNewswire/ -- TrueCar, Inc. (NASDAQ:TRUE) announced the election of Brendan Harrington, General Manager of Capistrano Valley Toyota, to its Board of Directors. In addition, Wesley Nichols resigned from the Board. Both changes were effective on October 27, 2022. 

After these changes, TrueCar's Board remains comprised of eight directors, three of whom are women and seven of whom are independent.

Mr. Harrington has extensive experience in automotive retail. He currently serves as General Manager of Capistrano Valley Toyota in San Juan Capistrano, California. From 2018 through 2020, Brendan served as the Chief Operating Officer of Penske Motor Group, which operates automobile dealerships in California and Texas. He previously held several leadership roles at Penske Motor Group beginning in 2003, including President and General Manager of Longo Toyota & Scion, the largest car dealership and the number one Toyota dealership in the U.S. for 50 straight years. He also served in product-related roles for Mercedes-Benz USA and Nissan North America. Mr. Harrington has a B.A. from Georgetown University and an M.A. from Stanford University.

"We are excited to welcome Brendan to TrueCar's Board of Directors. His success with leading high-performing dealerships combined with his OEM experience make him a great addition to our Board," said Mike Darrow, President and Chief Executive Officer of TrueCar. "We look forward to his insights and contributions as TrueCar continues to work with our Certified dealer network and OEM partners toward delivering a modern marketplace that brings the car buying experience online."

About TrueCar

TrueCar is a leading automotive digital marketplace that lets auto buyers and sellers connect to our nationwide network of Certified Dealers. With access to an expansive inventory provided by our Certified Dealers, we are building the industry's most personalized and efficient auto shopping experience as we seek to bring more of the process online. Consumers who visit our

marketplace will find a suite of vehicle discovery tools, price ratings and market context on new, used and Certified Pre-Owned vehicles. When they are ready, shoppers in TrueCar's marketplace can connect with a Certified Dealer in our network, who shares our belief that truth, transparency and fairness are the foundation of a great auto shopping 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.

 

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SOURCE TrueCar.com

FAQ

Who is Brendan Harrington and what is his role at TrueCar?

Brendan Harrington is the newly elected member of TrueCar's Board of Directors and currently serves as General Manager of Capistrano Valley Toyota.

When did Brendan Harrington join TrueCar's Board?

Brendan Harrington was elected to TrueCar's Board of Directors effective October 27, 2022.

What is the significance of Wesley Nichols' resignation from TrueCar's Board?

Wesley Nichols' resignation could impact the Board's continuity, but TrueCar continues to have a strong independent Board.

How does Brendan Harrington's experience benefit TrueCar?

Harrington's experience in leading automotive dealerships and his operations background at Penske Motor Group can provide TrueCar with valuable industry insights.

What is TrueCar's focus in the automotive marketplace?

TrueCar aims to enhance the car buying experience by connecting consumers with its network of Certified Dealers and providing an efficient online auto shopping experience.