TrueCar, Inc., an automotive marketplace platform, has announced a strategic restructuring aimed at streamlining the organization and enhancing operational efficiency. The restructuring initiative will involve a significant reduction in the workforce, impacting approximately 102 positions, which represents 24% of the company's headcount.
In conjunction with the restructuring, TrueCar has appointed Jantoon Reigersman as the new President and Chief Executive Officer (CEO) of the company. Reigersman, who previously served as TrueCar's Chief Financial Officer and Chief Operating Officer, brings a wealth of experience and a proven track record of driving success and improving the company's financial performance.
As part of the restructuring and leadership transition, Michael Darrow, the outgoing CEO, will be departing from TrueCar. Darrow's departure marks the end of his more than six years of dedicated service to the company.
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