Following layoffs and the appointment of a new CEO this summer, publicly traded auto marketplace TrueCar has named a new CFO, chief revenue officer (CRO) and head of sales.
Oliver Foley joins the company as CFO, replacing Teresa Luong, who had been with TrueCar in various financial roles since 2014.
Jay Ku, who started at TrueCar in February as chief commerce officer, will become CRO — a new role at the company. Lastly, Lisa Hess has been promoted to head of sales.
Foley will start at TrueCar on October 30 and will be responsible for the financial strategy, accounting operations, corporate finance, tax compliance and investor relations. He will report to Jantoon Reigersman, who replaced Mike Darrow as president and CEO in June, as the company laid off a quarter of its staff.
Foley has more than ten years of experience in senior corporate finance and strategy roles at companies focused on consumer retail, green energy and investing. He has spent the past 21 months at vehicle-subscription company FlexCar, most recently as head of finance.
As CRO, Ku will oversee dealer sales and retention, wholesale, car-maker products and TrueCar’s network of affiliates, which promote its car-buying services to members. He will oversee marketing and communications and continue to report to Reigersman.
As head of sales, Hess will lead TrueCar’s field sales team for both franchise and independent dealers. She was previously VP of major accounts at TrueCar. Before TrueCar, the 30-year auto industry veteran was the GM of a number of dealerships in the Seattle area. Hess will report to Ku.
Read the full hiring announcement here.