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TrueCar to terminate chief revenue officer Jay Ku without cause

Published 29/08/2025, 13:50
TrueCar to terminate chief revenue officer Jay Ku without cause
TRUE
1.38%

TrueCar, Inc. (NASDAQ:TRUE) disclosed Thursday that it will terminate the employment of Jay Ku, the company’s chief revenue officer, without cause, effective September 1. The announcement was made in a statement based on a Securities and Exchange Commission filing.

According to the company, TrueCar anticipates entering into a release and separation agreement with Mr. Ku. This agreement is expected to include a release of claims against the company by Mr. Ku and provide for severance benefits consistent with his employment agreement dated February 10, 2023, in connection with a termination without cause. The company maintains a strong financial position with a current ratio of 4.5x and more cash than debt on its balance sheet, according to InvestingPro data.

No additional details regarding the reasons for the termination or potential successors were provided in the filing.

TrueCar, Inc. is based in Santa Monica, California, and its common stock is listed on the Nasdaq Global Select Market under the ticker TRUE. The information in this article is based on a press release statement and an SEC filing.

In other recent news, TrueCar Inc. announced its financial results for the second quarter of 2025, revealing mixed outcomes. The company reported an earnings per share (EPS) of -$0.09, which fell short of analysts’ expectations of -$0.06. On a positive note, TrueCar’s revenue for the quarter was $47 million, exceeding the anticipated $45.21 million. These results highlight the company’s ability to generate more revenue than expected, despite the earnings miss. Additionally, the company’s stock experienced an increase, reflecting investor confidence in its strategic direction. TrueCar’s recent developments also include strategic advancements, although specific details were not disclosed in the available information. Investors may find the revenue performance particularly noteworthy amid the mixed financial results.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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