CAMBRIDGE, Mass., June 16, 2021 (GLOBE NEWSWIRE) — CarGurus, Inc. (Nasdaq: CARG), a leading global, online automotive marketplace, today announced the appointment of Yvonne Hao on June 15, 2021 to the company’s Board of Directors and as a member of its Audit Committee. Since July 2019, Ms. Hao has been a Managing Director and Co-Founder of the private equity firm Cove Hill Partners. Prior to that, Ms. Hao was the COO and CFO of PillPack where she was instrumental in that company’s successful sale to and integration with Amazon.
“Yvonne is an accomplished leader with tremendous experience providing technology and consumer companies with operational guidance and I am honored to welcome her to our Board,” said Jason Trevisan, CEO of CarGurus. “Along with her deep background in building strong consumer brands, Yvonne’s operational leadership will further strengthen our Board, and I look forward to her contributions as we continue our rapid growth at CarGurus.”
Ms. Hao has proven expertise in strategic operations, specifically within consumer technology companies. During her tenure at PillPack, she led operations, finance, human resources, real estate and procurement. Prior to PillPack, Ms. Hao spent almost 9 years at Bain Capital where she served as an Operating Partner and board member to several portfolio companies. Prior to Bain Capital, she held roles in Corporate Strategy and Global Marketing at Honeywell, and worked at McKinsey, where she started her career and was promoted to Associate Partner. Ms. Hao holds a B.A. from Williams College and a Master of Philosophy in Development Economics from Cambridge University.
“CarGurus has consistently pushed the envelope in automotive retail and that drive has catapulted them to the leadership position they hold today,” said Ms. Hao. “The automotive retail landscape is experiencing an important moment in its history and CarGurus is poised to help both consumers and dealers navigate it successfully. I am thrilled to join the Board and I look forward to collaborating with its members, including Jason, as well as the rest of the CarGurus team.”
Ms. Hao fills a board seat that was occupied by Anastasios (Tas) Parafestas, who resigned from the Board on June 15, 2021 after more than 15 years of service. Parafestas is the Founder, President and Managing Member of The Bollard Group LLC, an investment advisory firm, and of its private equity arm, Spinnaker Capital LLC.
“On behalf of CarGurus’ Board of Directors and the CarGurus community, I would like to thank Tas for his many years of dedication to our company,” said Mr. Trevisan. “Tas’s guidance and contributions have been critical to the company’s success and we are all grateful for his commitment over the years.”
About CarGurus
CarGurus (Nasdaq: CARG) is a leading global, online automotive marketplace connecting buyers and sellers of new and used cars. The Company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great deals from top-rated dealers. CarGurus is the most visited automotive shopping site in the U.S. (source: Comscore Media Metrix® Multi-Platform, Automotive – Information/Resources, Total Audience, Q1 2021, U.S. (Competitive set includes: CarGurus.com, Autotrader.com, Cars.com, TrueCar.com)). In addition to the United States, CarGurus operates online marketplaces under the CarGurus brand in Canada and the United Kingdom. In the United States and the United Kingdom, CarGurus also operates the Autolist and PistonHeads online marketplaces, respectively, as independent brands. CarGurus also holds a majority stake in CarOffer, a digital wholesale marketplace based in Addison, Texas. To learn more about CarGurus, visit www.cargurus.com.
