CarLotz, Inc. (LOTZ) Announces CEO Transition

CarLotz (NASDAQ: LOTZ), a leading consignment-to-retail used vehicle marketplace, announced today the appointment of Lev Peker to the role of Chief Executive Officer, effective April 18, 2022.

“Lev brings to CarLotz an exceptional blend of senior executive leadership experience, proven industry capabilities in online retail and a track record of shareholder value creation,” said Luis Solorzano, Chairman of the Board for CarLotz. “We believe Lev’s record of success as a CEO, with acumen in marketing, operations, and finance, and a history leading a consumer facing, technology-enabled, and operationally complex business, make him an ideal choice to take CarLotz into its next chapter of growth. We believe that Lev will be instrumental in helping to strengthen and grow the business and that under his leadership, CarLotz will be positioned for long-term success.”

Mr. Peker joins CarLotz after serving as Chief Executive Officer at CarParts.com, a leading e-commerce provider of automotive parts and accessories. Prior to that, he was Chief Marketing Officer at Adorama, a leading electronics retailer. Previously, Mr. Peker held senior positions at Sears Holdings Corporation and CarParts.com.

“I am excited for the opportunity to lead CarLotz into a new era of growth and innovation,” said Mr. Peker. “With an innovative business model, I believe CarLotz has great potential to increase market share as we emerge from COVID-19 and supply chain-related challenges that have hampered sourcing and operations throughout the sector.”

“On behalf of the Board of Directors, employees in the Richmond headquarters and throughout the U.S., and our business partners, we thank Michael for his vision, leadership and support,” added Mr. Solorzano. “Michael and the founding team saw an opportunity in the consignment marketplace and built a business that is changing the car buying and selling experience. We continue to see significant opportunity in Carlotz and look forward to its next chapter led by Lev.”

CarLotz issued its Q4 2021 earnings results concurrently this afternoon, which can be accessed at https://investors.carlotz.com/.

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