LMP Automotive Holdings, Inc. Hires William E. Myers II as Chief Financial Officer

PLANTATION, Fla., June 15, 2020 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the “Company” or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for or finance pre-owned and new automobiles, today announced the hiring of William E. Myers II as Chief Financial Officer.

“On behalf of LMP and its Board of Directors, I would like to welcome William “Bill” Myers to the LMP team,” said Sam Tawfik, the Company’s Chairman and Chief Executive Officer, adding that this is perfect timing given the Company’s active acquisition strategy. Mr. Myers will also bring significant mergers and acquisitions expertise as LMP explores prospective acquisitions. Mr. Myers has agreed to join LMP beginning on July 1, 2020.

Mr. Tawfik also added, “Bill brings significant public company experience, as well as a proven track record in audit, technical accounting, mergers and acquisitions, due diligence, valuation of assets and liabilities, as well as integrations. He is an important and timely pedigree addition to our team given that we believe we can deploy significant capital through our active pipeline of potential accretive franchise dealership acquisitions.”

Mr. Myers stated, “I am excited and honored to work with Mr. Tawfik and the LMP team. I believe my knowledge, financial expertise and public market experience will facilitate execution and oversight of LMP’s business strategy and add to shareholder value.”

Since 2018, Mr. Myers served as Executive Vice President, Chief Financial Officer and Treasurer of TravelCenters of America, Inc. (“TA”), where he served as a transformational change agent who turned around struggling financial and accounting functions by optimizing workforces, accelerating reporting, streamlining processes, and igniting cultural change. From 2014 to 2017, Mr. Myers served as Senior Vice President and Chief Accounting Officer of TA. Prior to joining TA, Mr. Myers worked as Vice President Technical Accounting and Reporting at Eaton Corporation, where he managed the internal audit department as well as mergers and acquisitions, due diligence, valuation of assets and liabilities and directed the integration activities for several acquisitions.

Mr. Myers is a C.P.A. and earned an M.B.A. at College of William & Mary, Williamsburg, VA and a B.B.A. from Northwood University, Midland, MI.

About LMP Automotive Holdings, Inc. – “Buy, Subscribe, Sell and Repeat.”

LMP Automotive Holdings, Inc. (NASDAQ: LMPX) describes its business model as “Buy, Subscribe, Sell and Repeat.” This means that we “Buy” pre-owned automobiles primarily through auctions or directly from other automobile dealers, and new automobiles from manufacturers and manufacturer distributors at fleet rates. We “Subscribe” the automobiles to our customers by allowing them to enter into our subscription plan for automobiles in which customers have use of an automobile for a minimum of thirty (30) days. LMP’s all-inclusive vehicle subscription membership includes monthly swaps and covers insurance, maintenance and upkeep. It offers the flexibility to upgrade your vehicle to a more premium model or downgrade for a lesser cost model when you like. We “Sell” our inventory, including automobiles previously included in our rental and subscription programs, to customers as well, and then we “Repeat” the whole process.

Media Contact:

John Mattio
President and Founder
Lamnia International
(203) 885-1058

For more information visit: https://lmpmotors.com/.


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SOURCE: LMP Automotive Holdings, Inc.