TrueCar CFO to step down for another business opportunity


Noel Watson has resigned as chief financial officer of automotive digital marketplace TrueCar to accept another business opportunity.

Watson, whose new opportunity will be with a privately held company “outside of the automotive vertical,” according to TrueCar, expects to remain in his current position through Nov. 16.

That is to ensure a smooth transition for the company, and TrueCar said that until it identifies a permanent candidate, the company’s controller, Charles Thomas, will serve as interim principal financial officer.

TrueCar said Watson’s resignation is not related to any issues involving the company’s operations, financial statements, internal controls, policies or practices. The company said it looks forward to announcing its financial results on Nov. 5 for the third quarter ended Sept. 30. The financial results announcement will take place following the close of market.

“While today’s announcement is bittersweet, I am proud of what we have accomplished and take comfort in knowing that I leave TrueCar well positioned to deliver on its strategic plans and to unlock its next chapter of growth,” Watson said in a news release. “I have the utmost confidence in the TrueCar brand, executive team and employees.”

TrueCar president and chief executive officer Mike Darrow thanked Watson for his contributions to the company.

Noel Watson.

“Noel has been instrumental in helping us navigate a period of rapid business transformation, and in positioning the company for future success as we execute on our strategic vision of building the industry’s leading modern digital car buying marketplace,” Darrow said. “We wish him continued success in this next chapter of his career.”

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