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Posted 14 June, 2023

TrueCar, Inc. appointed Jantoon Reigersman as new CEO

Nasdaq:TRUE appointed new Chief Executive Officer Jantoon Reigersman in a 8-K filed on 14 June, 2023.


  Also on June 14, 2023, the Board of Directors of the Company (the "Board") appointed Jantoon Reigersman, the Company's Chief Operating Officer, as the Company's President and Chief Executive Officer, effective as of June 15, 2023 (the "Effective Date").  

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Overview of TrueCar, Inc.
Technology • Internet/Online
TrueCar, Inc. engages in the operation of data-driven online platform which provides dealers and automakers with automobile information. It provides pricing transparency about what other people paid for their cars. The firm's products include Used Cars for Sale, Sell My Car, Local Pricing, and Lease a Car. The company was founded by Thomas Taira, James Nguyen, Scott Painter and Bernard Brenner in February 2005 and is headquartered in Santa Monica, CA.
Market Cap
$195M
View Company Details
TrueCar, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


Chief Executive Officer and Board Transition


Also on June 14, 2023, the Board of Directors of the Company (the "Board") appointed Jantoon Reigersman, the Company's Chief Operating Officer, as the Company's President and Chief Executive Officer, effective as of June 15, 2023 (the "Effective Date"). In connection with such appointment, the Board designated Mr. Reigersman as the Company's "principal executive officer." Mr. Reigersman is relinquishing his role as Chief Operating Officer.


Also on June 14, 2023, the Company terminated the employment of Michael Darrow as President and Chief Executive Officer of the Company, and each of his other positions at the Company and its affiliates, including his role as "principal executive officer," as of the Effective Date. Mr. Darrow is also required to resign from the Board upon the termination of his employment pursuant to the terms of his employment agreement. In connection with Mr. Darrow's termination, the Company anticipates entering into a release and separation agreement which contains a release of claims against the Company by Mr. Darrow and provides for severance benefits consistent with the Employment Agreement, dated March 9, 2020, by and between Mr. Darrow and the Company in connection with a termination without cause.


Jantoon Reigersman, 41, has served as the Company's Chief Operating Officer since March 2022. From January 2021 to February 2023, he also served as the Company's Chief Financial Officer. Before joining the Company, he served from December 2017 to May 2020 as the Chief Financial Officer of Leaf Group, Ltd., a diversified Internet, media and e-commerce company, and from January 2014 until joining Leaf, he served as Chief Financial Officer of Ogin, Inc., a clean technology company. Prior to Ogin, he was in the Special Situations Group at Goldman Sachs and the M&A investment banking group at Morgan Stanley. Mr. Reigersman holds an M.S. and a B.S. in International Business Administration from the Rotterdam School of Management at Erasmus University, a CEMS Masters in International Management from the Rotterdam School of Management and the École des Hautes Études Commerciales de Paris and is a graduate of the General Management Program at the Harvard Business School.


There are no arrangements or understandings between Mr. Reigersman and any other person pursuant to which he was selected for the positions to which he was appointed. There are no family relationships between Mr. Reigersman and any director or executive officer of the Company and Mr. Reigersman has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended.