Sonia Jain has been chosen as chief financial officer of Cars.com. Jain joins the company from movie-rental company Redbox, where she also served as CFO.

Jain (LinkedIn profile) replaces interim CFO Jandy Tomy, who’s been filling in for Becky Sheehan since she resigned last December after a tumultuous period of stagnant growth and a showdown with an activist investor. Tomy will resume her job as Cars.com’s treasurer.

Sonia Jain

Jain has more than 10 years of retail, technology and financial management experience, according to Cars.com’s hiring announcement.

At Redbox, Jain oversaw finance, treasury, strategy and analytics, as well as mergers and acquisitions. Previously, she was vice-president of finance and treasurer at Outerwall, which was acquired by Apollo Global Management in 2016 and broken up into four different companies, including Redbox. Before that Jain was an investment banker at Morgan Stanley and a consultant at McKinsey & Co.

Jain joins Cars.com, one of the three leading auto listings sites in the U.S., at a challenging time for the company. The company’s Q1 2020 revenue was down 4% year-on-year to $148.1 million, and it recently furloughed 250 people due to the pandemic. It also had plans to permanently cut 170 positions, or 10% of its workforce.

“Sonia joins the company at a time when we have established a strong liquidity position and successfully amended our credit agreement to see us through the pandemic period and beyond,” said Cars.com CEO, Alex Vetter. “I look forward to partnering with Sonia as the company builds on its successes realized during prior quarters and continues our quest for market leadership.”

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