Michael
Quartieri, Chairman of the Board, Appointed as Chief
Executive Officer,
Cameron Tkach Promoted to
Executive Vice President and Chief Operating
Officer,
Becca Polak Named as Vice Chairman
and Lead Independent Director
IRVING,
Texas, Jan. 13, 2025 /PRNewswire/
-- RumbleOn, Inc. (NASDAQ: RMBL) (the "Company" or
"RumbleOn"), the largest powersports retailer in North America, today announced the following
leadership changes, each effective as of January 13, 2025:
- Michael Quartieri, Chairman of
the Board of Directors, has been appointed Chief Executive
Officer;
- Cameron Tkach, Vice President of
Dealership Operations, has been promoted to Executive Vice
President and Chief Operating Officer of the Company;
- Becca Polak, Chair of the Compensation Committee of the Board
of Directors, has been named Vice Chairman and Lead Independent
Director; and
- Michael Kennedy is no longer
Chief Executive Officer or a member of the Board of Directors of
the Company.
Mr. Quartieri is a tenured C-suite executive with significant
leadership and strategic planning experience, in addition to having
strong financial acumen and corporate governance expertise. Ms.
Polak is a seasoned executive and board advisor who brings a
demonstrable record of driving business strategy and execution, as
well as technology transformation. Ms. Polak stated, "On behalf of
the Board, I am extremely excited to have Mike Quartieri serve as RumbleOn's next CEO. As
a key member of the Board, Mike has had a tremendous impact on our
financial planning, recent recapitalization efforts and the
continuation of the development of our business strategy. Together
with Cameron, an industry veteran with operational expertise, we
believe that they have the experience, capabilities and strategic
vision to accelerate RumbleOn's success into the future."
Cameron Tkach has more than 15
years of experience in the powersports industry and is a life-long
enthusiast having grown up in the dealership environment. He rose
through the ranks at RideNow Powersports, holding key operational
positions such as Sales Manager, Finance Manager, General Manager
and Operations Director, where he ensured high standards in
customer service, sales and operational efficiency.
After RumbleOn's acquisition of RideNow in 2021, Mr. Tkach
continued to hold a variety of leadership positions, including Vice
President of Retail Operations where he focused on optimizing
retail performance through business strategy and customer focus.
Mr. Tkach said, "I am excited to serve as Chief Operating Officer
of the Company and leverage my unique operational and strategic
expertise. I look forward to working with Mike Quartieri and the leadership team as we
continue striving towards operational excellence and market
leadership in the powersports industry."
"On behalf of the Board, I want to thank Mike Kennedy for his contributions and
dedication to RumbleOn. We are grateful for his leadership and wish
him well in all of his future endeavors," said Mr. Quartieri. "With
the payoff of our convertible notes earlier this month, we have
made significant progress in strengthening our balance sheet. As we
move forward, my focus will be on driving growth, improving
profitability and producing strong cash flow."
About RumbleOn
RumbleOn, Inc. (NASDAQ: RMBL), operates through two operating
segments: our Powersports dealership group and Wholesale Express,
LLC, an asset-light transportation services provider focused on the
automotive industry. Our Powersports group is the largest
powersports retail group in the United
States (as measured by reported revenue, major unit sales
and dealership locations), offering over 500 powersports franchises
representing 50 different brands of products. Our Powersports group
sells a wide selection of new and pre-owned products, including
parts, apparel, accessories, finance & insurance products and
services, and aftermarket products. We are the largest purchaser of
pre-owned powersports vehicles in the
United States and utilize RideNow's Cash Offer to acquire
vehicles directly from consumers.
For more information on RumbleOn, please visit rumbleon.com.
Cautionary Note on Forward-Looking Statements
The Company's press release contains statements that constitute
"forward-looking statements" within the meaning of The Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements include, but are not limited to, statements regarding
the Company's leadership transition. Forward-looking statements
generally can be identified by words such as "anticipates,"
"believes," "continues," "could," "estimates," "expects,"
"intends," "hopes," "may," "plan," "possible," "potential,"
"predicts," "projects," "should," "targets," "would" and similar
expressions, although not all forward-looking statements contain
these identifying words. Such statements are subject to numerous
important factors, risks and uncertainties that may cause actual
events or results to differ materially from current expectations
and beliefs, including, but not limited to, risks and uncertainties
related to: the Company's ability to implement a smooth leadership
transition; the impact of general economic, industry or political
conditions in the United States or
internationally, as well as the other risk factors set forth under
the caption "Risk Factors" in the registration statement, as
amended, and in RumbleOn's Annual Report for the year ended
December 31, 2023 and Quarterly
Reports on Form 10-Q for the quarters ended March 30, 2024, June 30,
2024 and September 30, 2024
and in any other subsequent filings made with the SEC by RumbleOn.
Any forward-looking statements contained in this press release
speak only as of the date hereof, and RumbleOn specifically
disclaims any obligation to update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by law.
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SOURCE RumbleOn
