TrueCar Issues Statement Related to John Krafcik Leaving to Join Google

John Krafcik has notified the Board of Directors that he plans to step down as TrueCar's president to begin a new role as chief executive officer of the autonomous car division of Google. While saddened that he will give up his operating role at TrueCar, we wish him well as he pursues this new opportunity. John and the Board have agreed that September 15 will be his last day working as TrueCar's president. He will remain on our Board of Directors and in that capacity help make TrueCar an even better solution for our dealer partners, consumers and automakers. "John's tireless efforts these past 18 months have been a tremendous benefit for TrueCar, and his influence will continue to be felt in the months ahead as programs he initiated come to fruition," said Chris Claus, TrueCar's Lead Independent Director. "He helped improve a car company while at Hyundai and worked to improve car-buying for dealers and consumers at TrueCar. We thank him for his service as president and are pleased that we'll continue to work with him as a member of our Board." Additionally, TrueCar's Board has asked CFO Mike Guthrie to take on the added role of interim Chief Operating Officer, with responsibility for running the day-to-day operations of the business. "TrueCar is fortunate to have an experienced and talented senior management team," Claus said. "We are confident that Mike and our senior team will continue to lead the company in the right direction during our CEO search process."