LMP Automotive Holdings, Inc. Hires William E. Myers II as Chief Financial Officer
June 15 2020 - 5:02PM
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the “Company” or
“LMP”), an e-commerce and facilities-based platform for consumers
who desire to buy, sell, subscribe for or finance pre-owned and new
automobiles, today announced the hiring of William E. Myers II as
Chief Financial Officer.
“On behalf of LMP and its Board of Directors, I would like to
welcome William “Bill” Myers to the LMP team,” said Sam Tawfik, the
Company’s Chairman and Chief Executive Officer, adding that this is
perfect timing given the Company’s active acquisition strategy. Mr.
Myers will also bring significant mergers and acquisitions
expertise as LMP explores prospective acquisitions. Mr. Myers has
agreed to join LMP beginning on July 1, 2020.
Mr. Tawfik also added, “Bill brings significant public company
experience, as well as a proven track record in audit, technical
accounting, mergers and acquisitions, due diligence, valuation of
assets and liabilities, as well as integrations. He is an important
and timely pedigree addition to our team given that we believe we
can deploy significant capital through our active pipeline of
potential accretive franchise dealership acquisitions.”
Mr. Myers stated, “I am excited and honored to work with Mr.
Tawfik and the LMP team. I believe my knowledge, financial
expertise and public market experience will facilitate execution
and oversight of LMP’s business strategy and add to shareholder
value.”
Since 2018, Mr. Myers served as Executive Vice President, Chief
Financial Officer and Treasurer of TravelCenters of America, Inc.
(“TA”), where he served as a transformational change agent who
turned around struggling financial and accounting functions by
optimizing workforces, accelerating reporting, streamlining
processes, and igniting cultural change. From 2014 to 2017, Mr.
Myers served as Senior Vice President and Chief Accounting Officer
of TA. Prior to joining TA, Mr. Myers worked as Vice President
Technical Accounting and Reporting at Eaton Corporation, where he
managed the internal audit department as well as mergers and
acquisitions, due diligence, valuation of assets and liabilities
and directed the integration activities for several
acquisitions.
Mr. Myers is a C.P.A. and earned an M.B.A. at College of William
& Mary, Williamsburg, VA and a B.B.A. from Northwood
University, Midland, MI.
About LMP Automotive Holdings, Inc. – “Buy, Subscribe, Sell and
Repeat.”
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) describes its
business model as “Buy, Subscribe, Sell and Repeat.” This means
that we “Buy” pre-owned automobiles primarily through auctions or
directly from other automobile dealers, and new automobiles from
manufacturers and manufacturer distributors at fleet rates. We
“Subscribe” the automobiles to our customers by allowing them to
enter into our subscription plan for automobiles in which customers
have use of an automobile for a minimum of thirty (30) days. LMP’s
all-inclusive vehicle subscription membership includes monthly
swaps and covers insurance, maintenance and upkeep. It offers the
flexibility to upgrade your vehicle to a more premium model or
downgrade for a lesser cost model when you like. We “Sell” our
inventory, including automobiles previously included in our rental
and subscription programs, to customers as well, and then we
“Repeat” the whole process.
Media Contact:
John MattioPresident and FounderLamnia International(203)
885-1058jmattio@lamniacom.com
For more information visit: https://lmpmotors.com/.
FORWARD-LOOKING STATEMENTS:
This press release may contain “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, each as
amended. Such statements include, but are not limited to, any
statements relating to our expectations, beliefs, projections,
future plans and strategies, anticipated events or trends and
similar matters that are not historical facts. These statements may
be preceded by, followed by or include the words “aim,”
“anticipate,” “believe,” “estimate,” “expect,” “forecast,”
“intend,” “likely,” “outlook,” “plan,” “potential,” “project,”
“projection,” “seek,” “can,” “could,” “may,” “should,” “would,”
will,” the negatives thereof and other words and terms of similar
meanings. Forward-looking statements are based on management’s
current expectations and are subject to risks and uncertainties
that could negatively affect our business, operating results,
financial condition and stock value. Factors that could cause
actual results to differ materially from those currently
anticipated include: our dependence upon external sources for the
financing of our operations; our ability to effectively executive
our business plan; our ability to maintain and grow our reputation
and to achieve and maintain the market acceptance of our services
and platform; our ability to manage the growth of our operations
over time; our ability to maintain adequate protection of our
intellectual property and to avoid violation of the intellectual
property rights of others; our ability to maintain relationships
with existing customers and automobile suppliers, and develop
relationships; and our ability to compete and succeed in a highly
competitive and evolving industry; as well as other risks described
in our SEC filings. There is no assurance that any forward-looking
statements will materialize. You are cautioned not to place undue
reliance on forward-looking statements, which reflect expectations
only as of this date. We expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in our expectations or any changes in events, conditions or
circumstances on which any such statement is based, except as
required by law.
SOURCE: LMP Automotive Holdings, Inc.
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