The former chief executive officer of Priceline.com now has that same role with Vroom.
Paul Hennessy resigned from his Priceline post last week and succeeds Vroom co-founder Allon Bloch, who will continue with Vroom as a senior advisor, the online used-car retailer said in a statement Wednesday afternoon.
Robert Mylod Jr., a former chief financial officer and vice chairman of The Priceline Group and a current board member at Vroom, was named non-executive chairman of Vroom’s board of directors.
Mylod and Hennessy worked together at The Priceline Group (which operates Priceline.com and other properties) for more than a decade, Vroom said.
Hennessy had been CEO of Priceline.com since April 2015 and held such executive roles within The Priceline Group as chief marketing officer at Booking.com and Priceline.com’s chief distribution officer.
“I have admired Vroom’s distinctive approach to pre-owned car retail online, which incorporates innovative technology, superior product and strong customer relationships,” Hennessy said in the news release. “This is a $450 billion industry that is transitioning quickly.
Paul Hennessy, Vroom
“Most transactions now involve the internet and mobile devices in some capacity and Vroom is at the forefront of having a complete online experience for savvy consumers seeking high-quality pre-owned cars at reasonable prices, delivered to their door nationwide. I’m excited to build on Vroom’s track record of excellence and growth and am confident we can establish the pre-eminent brand and platform that will be consumers’ destination for car buying.”
Bloch said: “I am incredibly proud of everything the Vroom team has accomplished since the company’s founding. Since 2014, Vroom has seen a more than ten-fold increase in revenue, and successfully acquired Texas Direct Auto, cementing our place as a pioneer and leading e-tailer in the pre-owned car field. In just the past year, we have sold over 40,000 cars and produced exceptional annualized growth rates that continue unabated to this day. We are now poised to achieve much larger volumes by delivering the best possible customer experience for selling, buying and financing high quality used vehicles online.”
“I look forward to seeing Vroom continue to grow and evolve under Paul’s leadership while freeing me up to go back to earlier stage company building, which is my passion,” Bloch said.