TrueCar adds AutoNation executive to board of directors
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Auto pricing information company TrueCar Inc. has snared a big fish for its board of directors.
TrueCar said Mike Maroone, president and chief operating officer of Fort Lauderdale-based AutoNation, the country’s largest automotive retailer, has agreed to join the board of directors of the Santa Monica company. AutoNation has 254 new car franchises in 15 states.
“More than ever, the consumer wants to be informed and empowered -– and dealers must embrace transparency and clarity in pricing in order to thrive. I believe TrueCar is playing a crucial role in changing the marketplace,” Maroone said.
Through its TrueCar.com website, TrueCar offers consumers information that can be handy for negotiating car purchases, including data on completed sales sorted by model and trim level, invoice pricing and retail pricing. It also operated a car sales referral business.
“We are now living in an intelligent, data-driven automotive marketplace,” said Scott Painter, TrueCar’s founder and chief executive. “Mike Maroone joining our board of directors reflects a true inflection point –- a key illustration that we have moved from start-up to impactful profitable growth company changing the way cars are sold.”
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-- Jerry Hirsch
