Transition Regime for the Leadership Team of TrueCar

TrueCar, Inc. (NASDAQ: TRUE) has named Oliver Foley as the new Chief Financial Officer, taking over from Teresa Luong. Jay Ku is transitioning from his role as Chief Commerce Officer, which he assumed in February 2023, to Chief Revenue Officer. Additionally, Lisa Hess has been promoted to Head of Sales.

Foley is set to assume his role at TrueCar on October 30, where he will be responsible for overseeing the company’s financial strategy, accounting operations, corporate finance, tax compliance, and investor relations. He will report directly to Jantoon Reigersman, who serves as President and CEO.

Foley brings with him over a decade of experience in senior corporate finance and strategy roles within various high-growth consumer brands. He is joining TrueCar from Flexcar, LLC, a leading U.S. vehicle subscription business, where he played a key role in shaping the company’s long-term business strategy and growth objectives while leading the Finance and Accounting, Risk, and Analytics teams.

In his new role as Chief Revenue Officer, Ku will have oversight over Dealer Sales and Retention, Wholesale, Affinity Network, and OEM Solutions, in addition to his existing responsibilities in marketing and communications. He will continue to report to Reigersman.

Hess, who previously held the position of Vice President of Major Accounts at TrueCar, has been promoted to Head of Sales. In this capacity, she will lead TrueCar’s field sales team for both franchise and independent dealers, as well as manage the supporting sales functions. Prior to her time at TrueCar, Hess served as General Manager at several prominent dealerships in the Seattle area, accumulating nearly three decades of experience in the automotive industry, with a significant portion in leadership roles at dealerships. She will report to Ku.

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