TrueCar Names Auto Retailing Pro Tom Gibson to Board of Directors

Gibson, former president and COO of Subaru America and founder of the Asbury Automotive Group, brings retail and manufacturer experience to auto marketplace website

News provided by

TrueCar, Inc.

Jun 25, 2012, 01:29 ET

SANTA MONICA, Calif., June 25, 2012 /PRNewswire/ -- TrueCar, Inc., an online automotive information and communications platform focused on creating a better car buying experience for dealers and consumers, today added automotive industry veteran Tom Gibson to its board of directors.

(Logo: http://photos.prnewswire.com/prnh/20110118/LA31413LOGO)

Gibson is the former chairman, president and CEO of Asbury Automotive Group, a startup he founded in 1994 to acquire and manage retail auto mega-dealerships, which has grown into a $5 billion NYSE company. Gibson also held senior sales and marketing positions with Ford and Chrysler before becoming president and COO of Subaru of America.

"Tom provides a rare blend of dealer and manufacturer experience that will help him lead TrueCar as we evolve products and services in these sectors," said Scott Painter, founder and CEO of TrueCar, Inc. "TrueCar prides itself in aligning with experts and industry leaders who bring fresh insights to all aspects of the auto retailing industry. With Tom on our board, we'll enjoy leadership from a gentleman whose unique resume includes leading major manufacturers as well as large retailer groups."

Gibson has served on a number of boards for public and private entities and has particular expertise in the governance disciplines by which corporations operate. His numerous board roles include chairman, lead independent director, president, CEO and COO, while working on committees focused on strategy, finance, investment, compensation and auditing.

"TrueCar has put together an impressive team that is providing innovative, valuable products and services to consumers, dealer partners and manufacturers," said Gibson. "I'm excited about the prospects of lending my time and contributing to such a thought-leading organization."

Gibson is currently on the board of directors of Dealer Tire, LLC and Alliance Inspection Management (AiM). He is past lead independent director of Ikon Office Solutions (NYSE); chairman of the board of Guilford Industries, an automotive textile supplier; and past director of Chrysler LLC, Dealer Track (NASDAQ), Falcon Financial (NASDAQ), Subaru of America (NASDAQ) and Asbury Automotive Group (NYSE).

Gibson, who lives in Villanova, Pa., and Naples, Fla., holds a Masters Degree in Business Administration from Harvard University. He has served as a trustee or board member of DePauw University, Glassboro State College, Children's Hospital of Philadelphia, the U.S. Ski Team, Subaru Foundation, Penjerdel Council and the World Affairs Council of Philadelphia.

About TrueCar, Inc.
TrueCar, Inc. is an online automotive information and communications platform focused on creating a better car buying experience for dealers and consumers. Consumers want a hassle-free car buying experience and dealers want high-quality sales velocity. TrueCar helps achieve these goals by providing unbiased market information on new car transactions and by supplying an online communications platform through which dealers and consumers can communicate with each other. TrueCar's market-based information provides both consumers and dealers with an accurate and comprehensive understanding of what others actually paid recently for similar vehicles, both locally and nationally. TrueCar's communications platform then allows informed, ready-to-buy consumers to communicate directly with participating dealers. Some of the nation's largest and most well respected membership and service organizations rely on websites powered by TrueCar to help educate their members and customers who are in the automotive market. TrueCar is headquartered in Santa Monica, CA, and has offices in San Francisco, CA, and Austin, TX. After experiencing dramatic growth since 2006, TrueCar is developing a suite of products and services centered on radical clarity through the comprehensive analysis of market data and information. TrueCar's participating dealer partners have sold over 500,000 new vehicles to TrueCar users nationwide.

SOURCE TrueCar, Inc.