TrueCar’s leadership churn continued this week. Executive vice president and CFO Noel Watson has resigned after working at TrueCar for just a year and a half.
It didn’t specify what the opportunity was but the release stressed, “Mr. Watson’s resignation is not related to any issues involving the company’s operations, financial statements, internal controls, policies or practices.”
The AIM Group asked Watson for a comment by LinkedIn message, but didn’t receive an immediate reply.
In the TrueCar statement Watson said:
“While today’s announcement is bittersweet, I am proud of what we have accomplished and take comfort in knowing that I leave TrueCar well positioned to deliver on its strategic plans and to unlock its next chapter of growth. I have the utmost confidence in the TrueCar brand, executive team and employees.”
Watson joined TrueCar in May of last year, filling a spot that was vacated more than a year earlier by John Pierantoni, who left for the car-subscription startup Fair.com. (After a short stint at that troubled company, Pierantoni is now at eHealth.)
Watson spent 13 years at TripAdvisor, where he rose to the level of chief accounting officer. He started his career as an auditor at Arthur Andersen.
TrueCar has seen a rash of executive exits since Chip Perry left as CEO in June of last year amid ongoing net losses (Perry has since joined the dealership software firm A2Z Link as CEO). This past September, TrueCar announced it had filled three top spots: COO, CTO and CCO (chief consumer officer).
We bet the company hoped for a few more years out of Watson. But he’s apparently in high demand, having been appointed to a board seat at gaming company Zynga in July.
Watson’s final day at TrueCar is scheduled for November 16. He will be replaced on an interim basis by Charles Thomas, TrueCar’s controller, until a permanent candidate is identified.
TrueCar is scheduled to report third-quarter financial results on November 5.