TAMPA, Florida, January 07, 2022 (GLOBE NEWSLETTER) – AutoWeb, Inc. (Nasdaq: AUTO), an automotive matchmaking platform connecting car buyers in the marketplace with their preferred vehicle transactions, named Carlton Hamer as Executive Vice President, Chief Financial Officer (CFO), succeeding Michael sadowski, and Josh barsetti as vice-president, controller and chief accountant. Hamer’s appointment as CFO is effective January 10, 2022, and Barsetti’s appointment takes effect from January 17, 2022. Sadowski will remain with the company until at least March to facilitate a smooth transition for the company’s new financial leaders.
“As AutoWeb remains focused on operational efficiency and pursuing its growth initiatives, Carlton’s impressive financial acumen and strong industry background will undoubtedly enhance the capabilities of our leadership team,” said declared Jared rowe, President and CEO of Automatic web. “Josh’s addition and his diverse compliance backgrounds reinforce our focus on improving performance results, and we look forward to incorporating their expertise into achieving our 2022 goals and beyond. “
Hamer is a Chartered Accountant and brings nearly three decades of experience to Automatic web, with a significant portion of his career devoted to the automotive industry. He held several leadership positions during his 15 years at Beetle Automotive, most notably as Senior Finance Manager / Controller of its AutoTrader.com division, where he led all core accounting and finance functions and helped drive substantial business growth. During his long tenure with Beetle Automotive, he has also held positions focused on strategic planning, supply chain and real estate. Hamer started his career at Deloitte as part of the audit team of the Atlanta office, where he served many private and public clients.
“During our stay at Beetle Automotive, several members of the AutoWeb leadership team have had the privilege of working with Carlton, and we look forward to working with him again in this important role, ”said Rowe.
Barsetti prides itself on a successful 20-year history of efficiency and productivity that aligns well with AutoWeb’s financial and operational performance goals. A Chartered Accountant, he most recently served as Senior Director of Internal Audit at Zovio, a publicly traded education and technology services management company, where he advised business and finance executives on risk. strategic, operational and financial. In addition, he led the corporate governance and compliance initiatives, as well as the internal audit and Sox 404 functions of the organization. Prior to Zovio, Barsetti was Chief Accounting Officer at Cavco Industries, Inc., where he also held the positions of Senior Director of Financial Administration and Director of Internal Audit.
“As we welcome Carlton and Josh to Automatic web, I would like to thank Michael for his invaluable contribution as CFO, ”Rowe said. “His leadership has been a central part of the evolution of our organization and he set the stage for Carlton and Josh to continue our business transformation. We wish Michael the best of luck in his future endeavors.
As an incentive to join the company, upon commencing their employment with the company, Hamer and Barsetti will be granted options to purchase 120,000 and 30,000 common shares of the company, respectively, at an exercise price. per share equal to the closing price of ordinary shares on the Nasdaq capital market on the day Hamer and Barsetti, respectively, begin working for the Company.
The options will have a term of seven years. One third of the options will vest on the first anniversary of the grant date, and 1/36e options will vest on each successive monthly anniversary of the grant date for the following 24 months. The vesting of options will accelerate in the event of the occurrence of certain events, including in the event of a change of control of the company (unless the options are assumed or replaced by a successor entity), and in the event of a change in control of the company. options granted to Hamer, will also accelerate in the event of Hamer’s termination of employment in the company without cause or by Hamer with good reason.
On AutoWeb, Inc.
AutoWeb, Inc. provides high quality leads, clicks and related marketing services to auto dealers and manufacturers across United States. The company also provides solid and original online automotive content to consumers to help them make informed car buying decisions. The company pioneered the automotive Internet in 1995 and has since helped tens of millions of auto consumers search for vehicles; connected thousands of dealerships nationwide with motivated car buyers; and has helped every major automaker market their brand online.
Disclaimer Regarding Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements under federal securities laws. Words such as “anticipates”, “could”, “could”, “estimates”, “expects”, “projects”, “intention”, “pending”, “plans”, “believes”, “Will” and similar substantive words, or the negative thereof, used in connection with any discussion of future transactions or financial performance identify forward-looking statements. In particular, statements regarding expectations and opportunities, new product expectations and capabilities, projections, statements regarding future events and our outlook regarding our performance and growth are forward-looking statements. These forward-looking statements, including the fact that the company looks forward to incorporating the expertise of Hamer and Barsetti into achieving its goals for 2022 and beyond, are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Actual results may differ materially from what is expressed or implied in these forward-looking statements. Automatic web makes no commitment to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include federal and state responses to the COVID-19 pandemic; changes in general economic conditions; the financial situation of automobile manufacturers and dealers; disruptions in automotive supply chains and production; changes in fuel prices; the economic impact of terrorist attacks, political revolutions, military actions or natural disasters (such as floods, earthquakes, tornadoes and hurricanes, and pandemics and epidemics); failure of AutoWeb’s Internet security measures; the economic impact of epidemics and pandemics; attrition of dealers; pressure on dealer fees; increased or unexpected competition; failure of new products and services to meet expectations; failure to retain key employees or attract and onboard new employees; the actual costs and expenses exceeding the charges borne by Automatic web; changes in laws and regulations; costs of legal affairs, including defending lawsuits and carrying out investigations and related cases; and other matters disclosed in documents filed by AutoWeb with the Security and Trade Commission. Investors are strongly encouraged to review the company’s annual report on Form 10-K for the fiscal year ended. December 31, 2020 and other documents filed with the Security and Trade Commission for a discussion of the risks and uncertainties that could affect the business, results of operations or financial condition of the Company and the market price of the Company’s shares.
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Source: AutoWeb, Inc.
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