Shift announced that its Board of Directors has appointed Ayman Moussa as Chief Executive Officer and a member of the Board, effective immediately June 9, 2023.
Ayman Moussa is an automotive entrepreneur and CEO with over 20 years of industry experience and leadership. In 2009, he founded Carnamic, a group of new and pre-owned auto dealerships in Northern California. Carnamic has 8 locations and over US$200 mln in annual revenue.
“With his considerable automotive dealership experience as a founder and operator and a proven track record, we are confident Ayman is ideally positioned to lead Shift during this critical juncture for the company,” said Victoria McInnis, Lead Director of the Board. “His operational expertise, especially in sales and processes, will significantly advance the execution of our omnichannel sales model.”
“I am honored to have the opportunity to lead Shift at this pivotal time as we focus on our path to profitability,” said Moussa. “I have tremendous respect for the Shift brand, its mission to make car purchase and ownership simple, and its unique vehicle acquisition engine. Having founded and led profitable auto dealerships, I believe there is significant opportunity to improve unit economics and bring the company to EBITDA profitability. I plan to hit the ground running and act with a sense of urgency in implementing process improvements.”
Moussa succeeds Jeff Clementz, who will remain with the Company as a strategic advisor to Moussa, the Board, and the management team during a transition period. Clementz will step down from the Board effective immediately.
“On behalf of the Board, I would like to extend sincere appreciation to Jeff for his efforts and dedication to the Company,” said McInnis. “Jeff led the Company through the CarLotz integration, and his significant ecommerce experience was invaluable in the implementation of the omnichannel sales model. We wish him the best in his future endeavors.”