---
schema_version: "secwatch.filing_event.v1"
accession: "0001327318-23-000033"
form_type: "8-K"
ticker: null
cik: "0001327318"
company_name: "TrueCar, Inc."
filed_at: "2023-09-26T23:59:59+00:00"
generated_at: "2026-06-10T08:34:58.702954+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# TrueCar names Oliver Foley CFO, shifts Jay Ku to CRO, promotes Lisa Hess to Head of Sales

## Summary
- Oliver Foley appointed CFO, effective Oct 30, 2023; base salary $400K, signing bonus $75K, RSU grant of 150K shares, PSU grant of 224,493 shares.
- Teresa Luong terminated without cause effective Oct 2, 2023; anticipated separation agreement with severance under her employment agreement.
- CEO Jantoon Reigersman named interim principal financial officer until Foley assumes role.
- Jay Ku transitions from Chief Commerce Officer to Chief Revenue Officer, overseeing dealer sales, wholesale, affinity, and OEM solutions.
- Lisa Hess promoted to Head of Sales from VP of Major Accounts; reports to Ku.

## SEC filing metadata
- accession: 0001327318-23-000033
- form_type: 8-K
- cik: 0001327318
- company_name: TrueCar, Inc.
- filed_at: 2023-09-26T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327318/000132731823000033/0001327318-23-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327318/000132731823000033/true-20230923.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001327318-23-000033
- JSON: https://secwatch.observer/filing/0001327318-23-000033.json
- Plain text: https://secwatch.observer/filing/0001327318-23-000033.txt

## Key facts
- Executive change
  Jantoon Reigersman was appointed as Interim Principal Financial Officer and Principal Accounting Officer at TrueCar, Inc..
  - Action: designated
  - Role: Interim Principal Financial Officer and Principal Accounting Officer
  source text: the Board designated Jantoon Reigersman, the Company’s President and Chief Executive Officer, as the Company’s interim principal financial officer and principal accounting officer, to serve until Mr. Foley assumes such positions.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327318/000132731823000033/0001327318-23-000033-index.htm
- Executive change
  Oliver Foley was appointed as Chief Financial Officer at TrueCar, Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: On September 26, 2023, TrueCar, Inc. (the “Company”) announced that it had appointed Oliver Foley as its Chief Financial Officer on September 23, 2023, to be effective as of October 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327318/000132731823000033/0001327318-23-000033-index.htm
- Executive change
  Teresa Luong departed as Chief Financial Officer at TrueCar, Inc..
  - Action: terminated without cause
  - Role: Chief Financial Officer
  source text: On September 23, 2023, the Company terminated without cause the employment of Teresa Luong, the Company’s Chief Financial Officer, effective October 2, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327318/000132731823000033/0001327318-23-000033-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.