TRAVERSE
CITY, Mich., Dec. 4, 2023
/PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY) an automotive
enthusiast brand and leading specialty vehicle insurance provider,
has named Gary Chard as its new
Senior Vice President of Marketplace Operations. Chard will join
the senior leadership team of Marketplace, Hagerty's growing
business to support members and enthusiasts who are buying and
selling collector cars. He will oversee all aspects of Marketplace
operations, including live and digital auctions, private sales,
financing and classifieds.
"Gary is an industry pro who will help us take Marketplace to
the next level as a trusted, easy to use platform for buying,
selling and financing collector cars," said Kenneth Ahn, President of Marketplace. "As one
of the most trusted names in the collector car world, Hagerty has
an incredible opportunity to capture an even bigger slice of the
$4 billion auction market and an
estimated $100+ billion global collector car transaction market,
and we intend to do just that."
One of Hagerty Marketplace's rapidly growing businesses is
online auctions, which is currently featuring the cars of former
heavyweight boxing champion and business legend George Foreman, including more than 50 collector
cars spanning every decade of production from the 1930s through
present. The auction lots will close between
December 11th and December 21st, with multiple cars ending
each weekday. To ensure the buying and selling process is as simple
and trustworthy as possible, the Marketplace team provides
extensive pre-sale and post-sale services, including facilitation
of payment and transfer of ownership. Marketplace also includes
collector favorite Hagerty Valuation Tools®, which includes more
than 15 years of pricing for 40,000 enthusiast cars, trucks, vans
and motorcycles from the post-war era to present.
Prior to joining Hagerty, Gary served as Vice President of
Leasing Operations & Work Retail for The Taubman Company and
the executive leasing liaison with Simon Property Group. He was
responsible for the continuous evaluation of operations to improve
efficiency and developing new tools and processes to maximize
productivity. Additionally, Gary was the CEO and Founder of a food
and beverage recruiting and staffing company, which scaled to
approximately 8,000 staff and 2,000 business users in the
Detroit market. Previous roles
include Senior Vice President, Head of Global Compensation &
Human Resources, Americas at Sotheby's New York and London as well as Senior Vice President, Head
of Global Compensation and HR Technology at Sotheby's.
Chard holds a Bachelor of Arts in Business & Sports Studies
from Southampton Solent University. Additionally, he holds a Human
Resources Leadership Academy Certification from the Corporate
Leadership Council and has taken multiple Human Resources Studies
courses at Cornell University.
Chard said, "I'm thrilled to join such a trusted and respected
company with so much potential. There is a huge opportunity ahead
of this team, and I'm excited for the chance to help Hagerty take
full advantage of it while providing an amazing level of service
for enthusiast buyers and sellers."
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements include all statements that are
not historical facts. These forward-looking statements reflect
Hagerty's current expectations and projections with respect to its
expected future business and financial performance, including,
among other things: (i) expected operating results, such as revenue
growth and increases in earned premium; (ii) changes in the market
for Hagerty's products and services, (iii) Hagerty's plans to
expand market share, including planned investments and
partnerships; (iv) anticipated business objectives; and (v) the
strength of Hagerty's business model. These statements may be
preceded by, followed by or include the words "aim," "anticipate,"
"believe," "estimate," "expect," "forecast," "future," "goal,"
"intend," "likely," "outlook," "plan," "potential," "project,"
"seek," "target," "can," "could," "may," "should," "would," "will,"
the negatives thereof and other words and terms of similar
meaning.
A number of factors could cause actual results or outcomes to
differ materially from those indicated by these forward-looking
statements. These factors include, among other things, Hagerty's
ability to: (i) compete effectively within its industry and attract
and retain members; (ii) maintain key strategic relationships with
its insurance distribution and underwriting carrier partners; (iii)
prevent, monitor and detect fraudulent activity; (iv) manage risks
associated with disruptions, interruptions, outages with its
technology platforms or third-party services; (v) accelerate the
adoption of Hagerty's membership products as well as any new
insurance programs and products; (vi) manage the cyclical nature of
the insurance business including through any periods of recession,
economic downturn or inflation; (vii) address unexpected increases
in the frequency or severity of claims; (vii) comply with the
numerous laws and regulations applicable to Hagerty's business,
including state, federal and foreign laws relating to insurance and
rate increases, privacy, the internet and accounting matters; (ix)
manage risks associated with being a controlled company; and (x)
other risks and uncertainties indicated from time to time in
documents filed or to be filed with the Securities and Exchange
Commission (the "SEC") by Hagerty.
The forward-looking statements herein represent the judgment of
Hagerty as of the date of this release and Hagerty disclaims any
intent or obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments, or otherwise. This press release should be
read in conjunction with the information included in the Company's
other press releases, reports and other filings with the SEC.
Understanding the information contained in these filings is
important in order to fully understand Hagerty's reported financial
results and our business outlook for future periods.
About Hagerty, Inc. (NYSE: HGTY)
Hagerty is an automotive lifestyle brand committed to saving
driving and fueling car culture for future generations. The company
is a leading provider of specialty vehicle insurance, expert car
valuation data and insights, live and digital car auction services,
immersive events and automotive entertainment custom made for the
67 million Americans who self-describe as car enthusiasts. Hagerty
also operates in Canada and the
U.K. and is home to Hagerty Drivers Club, a community of over
800,000 who can't get enough of cars. As a purpose-driven
organization, Hagerty Impact aims to be a catalyst for positive
change across the issues that matter most to our teams, our
members, the broader automotive community, our shareholders and the
planet at large. For more information, please visit www.hagerty.com
or connect with us on Facebook, Instagram, Twitter and LinkedIn.
More information can be found at newsroom.hagerty.com.
Category: Financial
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SOURCE Hagerty