Porch Group announces changes to existing Independent Board member appointments
June 13 2023 - 5:01PM
Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a
leading vertical software company reinventing the home services and
insurance industries, today announced changes to existing
Independent Board member appointments. The Nomination and Corporate
Governance Committee (the "Committee") regularly reviews the
composition of each Board Committee, including skills, knowledge,
experience, and diversity. With three new members joining the Board
in 2022, the Committee rotated committee chair positions, effective
June 12, 2023, to bring experience, as well as fresh perspectives
to these key governance roles. No Board members are departing or
joining the Board at this time. The Board of Directors remains at
eight directors, seven of whom are Independent Directors.
Alan Pickerill (previously Chair of the Audit
Committee) has been appointed as Lead Independent Director and will
step down from the Audit Committee. Mr. Pickerill remains a member
of the Nomination and Corporate Governance Committee. Mr. Pickerill
has more than 30 years’ experience in a variety of finance and
accounting roles, including as Chief Financial Officer of publicly
traded companies, and has been on the Porch Board for nearly four
years, having joined the legacy Porch board in the fall of 2019.
Regi Vengalil (previously Lead Independent Director) continues in
his role as Chair of the M&A Committee and remains a member of
the Nomination and Corporate Governance Committee. Maurice Tulloch
(previously Chair of the Compensation Committee and member of the
Audit Committee), a certified public accountant and previous Chief
Executive Officer for the global insurance company Aviva plc,
becomes Chair of the Audit Committee and remains a member of the
Compensation Committee. Sean Kell (previously a member of the
Compensation Committee) becomes Chair of the Compensation Committee
and joins the Audit Committee as a member.
Mr. Tulloch will also serve as Chair of the
Special Transactions Committee, responsible for overseeing the
approval and launch of the Porch Insurance Reciprocal Exchange,
which remains subject to review and approval by the Texas
Department of Insurance.
“I would like to thank Regi for his commitment
and contribution as Lead Independent Director over the last year.
We are pleased he will continue to support us as an Independent
Director. We are also pleased Alan will be stepping into the Lead
Independent Director position. Alan has already made a great impact
on the business, our risk management framework, and governance
since he joined us back in 2019 when Porch was a private company,
and we are looking forward to working together to deliver key
successes in later 2023 and beyond. We believe we have a strong and
diverse Board, with deep expertise which has been further utilized
by the changes announced today,” said Matt Ehrlichman, Chief
Executive Officer, Chairman and Founder.
About Porch Group
Seattle-based Porch Group, Inc., the vertical
software platform for the home, provides software and services to
approximately 30,900 home services companies such as home
inspectors, mortgage companies and loan officers, title companies,
moving companies, real estate agencies, utility companies, and
warranty companies. Through these relationships and its multiple
brands, Porch Group provides a moving concierge service to
homebuyers, helping them save time and make better decisions on
critical services, including insurance, warranty, moving, security,
TV/internet, home repair and improvement, and more. To learn more
about Porch Group, visit porchgroup.com or porch.com.
Investor Relations
Contact:
Lois Perkins, Head of Investor RelationsPorch
Group, Inc.Loisperkins@porch.com
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