E-commerce/Engagement of consumers and product experts to build on the company’s heritage in innovative digital marketing products
TAMPA, Fla., Feb. 07 28, 2022 (GLOBE NEWSWIRE) — AutoWeb, Inc. (Nasdaq: AUTO), an automotive matchmaking platform connecting in-market car buyers to their favorite vehicle transactions, has named Scott Edwards as senior vice president. , digital marketing operations. In this new role, he will be responsible for creating, implementing and optimizing AutoWeb’s search engine marketing, digital marketing, prospecting operations and digital advertising solutions. Edwards’ appointment to the new position takes effect today.
AutoWeb has also promoted Brett Nanigian from his current position to senior vice president, product and technology. In addition to leading the product and engineering teams, he will assume leadership of the remaining technology function within the company.
“We are excited about the fresh perspective and entrepreneurial approach Scott brings to this important role, and the outstanding work Brett has done leading our product innovation,” said Dan Ingle, Director of operation of AutoWeb. “As we continue to improve our solutions for today’s ever-changing automotive market, we expect their combined expertise to build on AutoWeb’s heritage in digital marketing products and align our capabilities with the company’s expansion into vehicle acquisition.”
Edwards brings over a decade of experience in e-commerce products and digital marketing working with automotive brands and consumer brands. He most recently served as VP, Product Marketing and Growth at Vokal, a digital and growth consultancy focused on the full product lifecycle, from innovation to optimization and scale. . As part of the leadership team there, he led and assumed responsibility for the profit and loss (P&L) of the organization – including product, growth marketing, design and engineering – and implemented new testing methodologies to expand its growth potential.
Edwards also brings with him highly relevant experience in the automotive industry, having served as Director of Digital and Product Marketing at Detroit Trading Co., where he worked with Fortune 500 automotive companies to deliver digital first solutions, while optimizing the sales funnel, reducing costs. per sale and increasing revenue generation. He has held other senior digital marketing positions at Gordon Food Service, GrowLife, Inc. and SM Administrators.
Nanigian joined AutoWeb in 2019 as Vice President, Product, and is responsible for the strategic direction, ideation, design, development and enhancement of AutoWeb’s product portfolio, putting the focus on getting to market quickly and making smart investments in products that support growth. Prior to AutoWeb, he spent more than a decade in leadership roles at Cox Automotive, where he held various product strategy and operations leadership roles. In his most recent role, he was responsible for the strategy, development and operations of Kelley Blue Book vehicle values and appraisal-related products, and implemented operational improvements to its Instant Cash Offer product, a key driver of revenue growth. He also led a number of transformation efforts aimed at increasing the monetization of the organization. Prior to his time at Cox Automotive, Nanigian spent nearly a decade in various technology roles for Inforte Corporation and Elan Corporation plc. He started his career working for Larry H. Miller dealerships.
As an incentive to join the company, Edwards was granted options to acquire 50,000 shares of common stock in the company, at an exercise price per share equal to today’s closing price of common stock on the Nasdaq Capital Market. 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 1/36and Options will vest on each successive monthly anniversary of the grant date for the following 24 months. Vesting of options will accelerate in the event of a change in control of the company (unless the options are assumed or replaced by a successor entity).
About AutoWeb, Inc.
AutoWeb, Inc. provides high-quality leads, clicks, and related marketing services to automotive dealerships and manufacturers across the United States. The company also provides consumers with robust and original online automotive content to help them make informed car buying decisions. The company pioneered the automotive Internet in 1995 and has since helped tens of millions of automotive consumers research vehicles; connected thousands of dealerships nationwide with motivated car buyers; and has helped every major automaker market their brand online.
Disclaimer of Forward-Looking Statements
Statements contained in this press release that are not historical facts are forward-looking statements under federal securities laws. Words such as ‘anticipates’, ‘could’, ‘may’, ‘estimates’, ‘expects’, ‘plans’, ‘intends’, ‘expects’, ‘plans’, ‘believes “, “will” and similar words substance, or the negative form of these words, used in connection with any discussion of future operations 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 that the company continues to improve its solutions for today’s changing automotive market, the company expects the combined expertise of Scott Edwards and Brett Nanigian to builds on the company’s heritage in digital marketing products and aligns the company’s capabilities with the company’s expansion into vehicle acquisition, are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements. AutoWeb undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include federal and state government responses to the COVID-19 pandemic; changes in general economic conditions; the financial condition of automobile manufacturers and dealers; disruptions to 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, pandemics and epidemics); failure of AutoWeb’s Internet security measures; the economic impact of epidemics and pandemics; concessionaire attrition; pressure on dealer fees; increased or unexpected competition; failure of new products and services to meet expectations; inability to retain key employees or attract and onboard new employees; actual costs and expenses exceeding the charges taken by AutoWeb; changes in laws and regulations; costs of legal matters, including defending claims and conducting investigations and related matters; and other matters disclosed in AutoWeb’s filings with the Securities and Exchange 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 filings with the Securities and Exchange Commission for a discussion of the risks and uncertainties that could affect business, results of operations or financial condition. of the company and the market price of the company’s shares.
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