{"id":385541,"date":"2020-11-19T16:08:18","date_gmt":"2020-11-19T21:08:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385541"},"modified":"2020-11-19T16:08:18","modified_gmt":"2020-11-19T21:08:18","slug":"autoweb-appoints-michael-sadowski-to-chief-financial-officer","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/autoweb-appoints-michael-sadowski-to-chief-financial-officer\/","title":{"rendered":"AutoWeb Appoints Michael Sadowski to Chief Financial Officer"},"content":{"rendered":"<h2>\nFormer Cox Automotive Executive to Lead Finance Organization Through AutoWeb\u2019s Next Phase of Growth<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">TAMPA, Fla., Nov.  19, 2020  (GLOBE NEWSWIRE) &#8212; AutoWeb, Inc. (Nasdaq: AUTO), a robust digital marketing platform providing digital advertising solutions for automotive dealers and OEMs, has appointed Michael Sadowski as executive vice president and chief financial officer (CFO), succeeding J.P. Hannan effective Nov. 30, 2020. Hannan will remain with the company for a brief period to facilitate a smooth transition.<\/p>\n<p>Sadowski brings a diverse background of financial and operational expertise to AutoWeb, with more than two decades of experience in automotive, analytics and digital marketing for companies like Cox Automotive, GameWorks and General Electric. At Cox Automotive, Sadowski led a variety of finance and operations functions for Kelley Blue Book, Autotrader and Dealer.com, and worked closely with several members of AutoWeb\u2019s current senior leadership team.<\/p>\n<p>\u201cMike\u2019s unique breadth of experience and track record of success will undoubtedly strengthen our executive team,\u201d said Jared Rowe, president and CEO of AutoWeb. \u201cAfter our time at Cox, I hoped for an opportunity to work together again, and I am thrilled that the timing aligned so well for him to join our team. Mike will be an important part of our team as we move past the turnaround stages of our business and focus on product innovation and growth. He shares our philosophy and approach to running a lean and efficient organization, and we have personally seen his relentless drive and commitment to results.\u201d<\/p>\n<p>During Sadowski\u2019s time at GameWorks, he was responsible for all revenue-generating functions\u2014including product, analytics, business development, and sales and marketing\u2014as well as digital strategies and experiences. Earlier in his career, Sadowski served in various financial management roles at publicly traded companies like General Electric Company and NextGen Healthcare, Inc., where he was responsible for financial planning and analysis (FP&amp;A), mergers and acquisitions, strategy and treasury functions.<\/p>\n<p>Sadowski holds a bachelor\u2019s degree from the University of Massachusetts\u2019 Isenberg School of Management and an MBA from the University of Southern California\u2019s Marshall School of Business. He was also a recipient of Auto Remarketing Magazine\u2019s 2017 \u201c40 Under 40\u201d designation.<\/p>\n<p>\u201cAs we welcome Mike to AutoWeb, I want to thank J.P. for his many significant contributions as our CFO over the past two years,\u201d Rowe continued. \u201cHe played a key role in restructuring our financials and seeing us through our turnaround, and we wish him the best in his new endeavor.\u201d<\/p>\n<p>\n        <strong>Inducement Options<\/strong><br \/>\n        <br \/>As an inducement for joining the company, upon commencement of his employment with the company, Sadowski will be granted options to acquire 120,000 shares of the company\u2019s common stock at an exercise price per share equal to the closing price of the common stock on The Nasdaq Capital Market on the day Sadowski commences employment with the Company.<\/p>\n<p>The options will have a term of seven years. One third of the options will vest on the first anniversary of the grant date, and 1\/36<sup>th<\/sup> of the options shall vest on each successive monthly anniversary of the grant date for the following 24 months. Vesting of the options will accelerate upon the occurrence of certain events, including upon a change in control of the company or upon termination of the grantee\u2019s employment by the company without cause or by the grantee for good reason.<\/p>\n<p>\n        <strong>About <\/strong><br \/>\n        <strong>AutoWeb, Inc.<\/strong><br \/>\n        <br \/>AutoWeb, Inc. provides high-quality consumer leads, clicks and associated marketing services to automotive dealers and manufacturers throughout the United States. The company also provides consumers with robust and original online automotive content to help them make informed car-buying decisions. The company pioneered the automotive Internet in 1995 and has since helped tens of millions of automotive consumers research vehicles; connected thousands of dealers nationwide with motivated car buyers; and has helped every major automaker market its brand online.<\/p>\n<p>Investors and other interested parties can receive AutoWeb news alerts and special event invitations by accessing the online registration form at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wtKibNwlSODHMWLdFTlmgSpqYvq1AZkQgKIJ5jfPeaSg8ooaZ-AgLMifja-FSnK2b5vch6SW9pcoEKSHlFDY9Zlbw73blceGg7koSoz_uC6YmGYQ_kX0CoXs3gGDxw6txtfmAOPX2DH-dy_5-vNsaA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">http:\/\/investor.autoweb.com\/alerts.cfm<\/a>.<\/p>\n<p>\n        <strong>Company<\/strong><br \/>\n        <strong> Contact<\/strong><br \/>\n        <br \/>Beth P. Quezada<br \/>Communications &amp; Culture Manager<br \/>AutoWeb, Inc.<br \/>949-862-1391<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3FkfAnNnBtlQChXIIph3MRcU3Po0jPX_eUbcw0J9sD4utFeJHHlhmyCOA77bnz-dwqDQzDm2LFGOU8cA04sl-Q4sqeIvRv0A2LjYd75IBq4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Beth.quezada@autoweb.com<\/a><\/p>\n<p>\n        <strong>Investor Relations Contact<\/strong><br \/>\n        <br \/>Sean Mansouri, CFA or Cody Slach<br \/>Gateway Investor Relations<br \/>949-574-3860<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=riGHxFRNtDjfsAzzfiZrpbmykc14A-9OfvO-d14FOSZpqbuaBj10LpGTkjg47xpF5aYeZJp-gWiHx8bpH4WSjubM8Ff_qrT2SGyuatRIWGc=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">AUTO@gatewayir.com<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4ODczNyMzODMzOTI1IzIwMTkzMDM=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/91d2e3f9-dcbe-4fe8-a744-9c1583d8d2b5\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Former Cox Automotive Executive to Lead Finance Organization Through AutoWeb\u2019s Next Phase of Growth TAMPA, Fla., Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; AutoWeb, Inc. (Nasdaq: AUTO), a robust digital marketing platform providing digital advertising solutions for automotive dealers and OEMs, has appointed Michael Sadowski as executive vice president and chief financial officer (CFO), succeeding J.P. Hannan effective Nov. 30, 2020. Hannan will remain with the company for a brief period to facilitate a smooth transition. Sadowski brings a diverse background of financial and operational expertise to AutoWeb, with more than two decades of experience in automotive, analytics and digital marketing for companies like Cox Automotive, GameWorks and General Electric. At Cox Automotive, Sadowski led a variety of finance and operations &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/autoweb-appoints-michael-sadowski-to-chief-financial-officer\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AutoWeb Appoints Michael Sadowski to Chief Financial Officer&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-385541","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AutoWeb Appoints Michael Sadowski to Chief Financial Officer - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/autoweb-appoints-michael-sadowski-to-chief-financial-officer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AutoWeb Appoints Michael Sadowski to Chief Financial Officer - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Former Cox Automotive Executive to Lead Finance Organization Through AutoWeb\u2019s Next Phase of Growth TAMPA, Fla., Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; AutoWeb, Inc. (Nasdaq: AUTO), a robust digital marketing platform providing digital advertising solutions for automotive dealers and OEMs, has appointed Michael Sadowski as executive vice president and chief financial officer (CFO), succeeding J.P. Hannan effective Nov. 30, 2020. Hannan will remain with the company for a brief period to facilitate a smooth transition. Sadowski brings a diverse background of financial and operational expertise to AutoWeb, with more than two decades of experience in automotive, analytics and digital marketing for companies like Cox Automotive, GameWorks and General Electric. 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