TrueCar (TRUE) Announces Leadership Appointments

September 26, 2023 4:06 PM EDT

TrueCar, Inc., (NASDAQ: TRUE), the easiest, most efficient and transparent online destination for buying and selling new and used vehicles, today announced new leadership appointments and role changes. Oliver Foley is joining TrueCar as Chief Financial Officer, replacing Teresa Luong. Jay Ku will be shifting roles from Chief Commerce Officer which he took on in February 2023, to Chief Revenue Officer. Lisa Hess is promoted to Head of Sales.

Foley will start at TrueCar on October 30 and will be responsible for the company's financial strategy, accounting operations, corporate finance, tax compliance and investor relations. He will report to Jantoon Reigersman, President and CEO. Foley has spent over 10 years in senior corporate finance and strategy roles across several high-growth consumer brands. He will be joining TrueCar from Flexcar, LLC, a leading vehicle-subscription business in the U.S. where he led the Finance and Accounting, Risk and Analytics teams responsible for shaping the company's long-term business strategy and growth objectives.

As Chief Revenue Officer, Ku will oversee Dealer Sales and Retention, Wholesale, Affinity Network, and OEM Solutions, in addition to existing oversight of marketing and communications. He will continue to report to Reigersman.

As Head of Sales, Hess will lead TrueCar's field sales team for both franchise and independent dealers as well as the supporting sales functions. Hess was previously Vice President of Major Accounts at TrueCar. Prior to joining TrueCar she was the General Manager of several high-profile dealerships in the Seattle area. She has nearly 30 years of automotive industry experience, many in dealer leadership positions. Hess will report to Ku.

"We're thrilled to welcome Oliver to the TrueCar team as we build an organization that will continue to deliver deliberate, innovative, and exciting products for both consumers and dealers. We are also excited to promote Lisa, who has been pivotal to the success and growth of our dealer partner network. Jay's new role will be principally dedicated to TrueCar's tremendous revenue growth opportunity," said Reigersman.

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