PowerSports Business August 2023 | Page 7

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NEWS

Powersports Business • August 2023 • 7
HOTNEWS
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RUMBLEON ’ S CHESROWN STEPS DOWN , CO-FOUNDER OF RIDENOW APPOINTED INTERIM CEO
RumbleOn announced that the board of directors has appointed Mark Tkach , the co-founder of the RideNow powersports group , acquired by RumbleOn in August of 2021 , and a major shareholder , to serve as the interim chief executive officer of the company , following the resignation of Marshall Chesrown from that role on June 15 . During Tkach ’ s interim service , the board ’ s executive transition committee will continue its efforts to identify a permanent CEO .
“ We thank Mark Tkach for his willingness to assist during this time of transition and are confident that his deep knowledge and experience in the powersports industry will provide enhanced opportunities for operational excellence as the company works to identify a permanent successor ,” says Steve Pully , chairman of the RumbleOn board of directors .
In addition , the company announced that it reached an agreement in principle with the Coulter-Tkach Group to resolve all outstanding proxy matters currently subject to contest at the annual meeting of shareholders on July 14 .
The company and Coulter-Tkach have agreed to end the proxy contest on the following terms :
The board will expand temporarily from seven to nine members to allow Melvin Flanigan and Mark Tkach to join immediately
Steve Pully is named Chairman of the Board
Coulter named as a board observer until his election at the annual meeting , with access to all board activities and access to books and records
Reorganization of board committees , including :
Nominating and corporate governance : Shin Lee ( Chair ), Becca Polak Melvin Flanigan
Audit : Melvin Flanigan ( Chair ), Steve Pully , Kevin Westfall
Compensation : Becca Polak ( Chair ), Melvin Flanigan , Steve Pully
CEO Transition : Mark Tkach ( Chair ), Shin Lee , Becca Polak , Steve Pully , Kevin Westfall , William Coulter ( non-voting until such time he is appointed / elected to board )
The Coulter-Tkach group will withdraw existing nominations and proposals in connection with the 2023 Annual Meeting .
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JAMES WAGNER
do ,” and “ under�promise and over�deliver .” In his new role , Wagner is tasked with building upon existing Segway dealer relationships while adding new business partners .
Gary Sargent got his first motorcycle at age three and has dedicated his life to the powersports industry for the past 25 years . After opening a small motorcycle repair shop upon graduating high school , Sargent helped transition one of his father ' s fourth �generation auto dealerships to a full�line powersports dealership . There he helped several OEM manufacturers increase their brand recognition in his region . He is thrilled to join a company that embraces technology and innovation and looks forward to helping grow the Segway Powersports brand in the Pacific Northwest .

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GARY SARGENT
" With our continued growth and success in the U . S . market , the timing was right to add to our group of talented , industry� experienced sales representatives ," says Jason Walling , newly appointed vice president of sales and marketing . " As we continue to up the ante in the ATV and UTV segments with modern designs built for ultimate performance , it was crucial that we add new team members that speak the language of powersports and can foster long�term relationships with our dealer partners while driving consumer demand for our powersports line . We ' re proud ( and honored ) to add these six extremely talented sales professionals to our staff . We ' d like to officially welcome Mo Bojku , Michael Rickman , Kelly Rees , Adam Hindle , James Wagner , and Gary Sargent to the Segway Powersports Family ."
For more information , visit the U . S . Segway website at SegwayPowersports . us or follow them on social media at @ segwaypowersports . us .

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