BEVERLY HILLS, Calif., March 04, 2020 (GLOBE NEWSWIRE) -- YayYo, Inc. (OTC: YAYO) (“YayYo” or the “Company”), a leading vehicle provider to gig economy rideshare and delivery drivers through its wholly-owned subsidiary, Rideshare Rentals, has appointed Ramy El-Batrawi as chief executive officer and a member of its board of directors, effective immediately. Boyd Bishop will step down from his role as president and has agreed to serve as a consultant to the Company going forward.
El-Batrawi is the original founder of YayYo and served as its CEO until February 2019. He is a highly accomplished entrepreneur with over three decades of experience leading high-growth companies. El-Batrawi is also the founder of X, LLC, a private investment firm focused on acquiring companies and implementing effective growth strategies. Over his extensive career, he has founded several other notable companies.
“Ramy’s return as CEO is an important step forward for the Company given his intimate knowledge of the Company’s operations and the rideshare industry and his proven track record of executing growth strategies and developing strategic partnerships,” said Stephen Sanchez, chairman of YayYo’s board. “The board unanimously approved his appointment as we have the utmost confidence that he is the right person to take the company to its fullest potential. We look forward to Ramy’s leadership and operational rigor as we look to continue expanding our geographical footprint and add more vehicles to our fleets across the country.
“I would also like to thank Boyd Bishop for his service and dedication to YayYo as he remains with the Company as a consultant to advise on key partnerships and go-to-market strategies.”
Commenting on his appointment, El-Batrawi stated: “YayYo has an innovative platform for gig economy drivers, providing access to vehicles with the necessary requirements to drive for various rideshare and delivery companies. As the founder and one of the largest shareholders of YayYo, I believe I am very well aligned with all shareholders to deliver long-term value and position YayYo as the premier car rental servicing platform for the gig economy. I look forward to once again leading the YayYo team as we aggressively strive to grow our footprint, pursue strategic partnerships and further optimize our operations.”
At his request, El-Batrawi will not receive compensation in connection with his appointment as chief executive officer or his service on YayYo’s board of directors.
About YayYo, Inc.
YayYo, Inc., traded on the OTC Pink Market under the symbol “YAYO,” is a holding company with a mission to bridge the gap between gig economy drivers who need vehicles and transportation network and delivery companies that depend on attracting and keeping drivers. One of the company’s wholly-owned subsidiaries, RideShare Rental, is a proprietary platform that rents vehicles with approved gig economy insurance to rideshare drivers and provides fleet operators with a platform to manage their vehicle rental fleets. Distinct Cars, another wholly-owned subsidiary, maintains a growing fleet of new standard passenger vehicles and rents these vehicles directly to rideshare drivers. Through RideShare Rental and Distinct Cars, YayYo seeks to become the preeminent provider of rental vehicles to drivers in the gig economy. For more information, please visit YayYo.com.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “is likely,” “plans,” “predicts,” “projects,” “may,” “could,” “look forward,” “continue”, “future” and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements reflect current beliefs as to the expected outcomes of future events and are not guarantees of future performance. These statements involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed, implied or forecasted in such forward-looking statements. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC).
Company Contact:
investors@yayyo.com
Investor Relations Contact:
Sean Mansouri, CFA or Cody Cree
Gateway Investor Relations
949-574-3860
YAYO@gatewayir.com