Hagerty names Gary Chard as new Senior Vice President of Marketplace Operations

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Dec 04, 2023, 09:00 ET

TRAVERSE CITY, Mich., Dec. 4, 2023 /PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY) an automotive enthusiast brand and leading specialty vehicle insurance provider, has named Gary Chard as its new Senior Vice President of Marketplace Operations. Chard will join the senior leadership team of Marketplace, Hagerty's growing business to support members and enthusiasts who are buying and selling collector cars. He will oversee all aspects of Marketplace operations, including live and digital auctions, private sales, financing and classifieds.

Gary Chard Headshot

"Gary is an industry pro who will help us take Marketplace to the next level as a trusted, easy to use platform for buying, selling and financing collector cars," said Kenneth Ahn, President of Marketplace. "As one of the most trusted names in the collector car world, Hagerty has an incredible opportunity to capture an even bigger slice of the $4 billion auction market and an estimated $100+ billion global collector car transaction market, and we intend to do just that."

One of Hagerty Marketplace's rapidly growing businesses is online auctions, which is currently featuring the cars of former heavyweight boxing champion and business legend George Foreman, including more than 50 collector cars spanning every decade of production from the 1930s through present. The auction lots will close between December 11th and December 21st, with multiple cars ending each weekday. To ensure the buying and selling process is as simple and trustworthy as possible, the Marketplace team provides extensive pre-sale and post-sale services, including facilitation of payment and transfer of ownership. Marketplace also includes collector favorite Hagerty Valuation Tools®, which includes more than 15 years of pricing for 40,000 enthusiast cars, trucks, vans and motorcycles from the post-war era to present.

Prior to joining Hagerty, Gary served as Vice President of Leasing Operations & Work Retail for The Taubman Company and the executive leasing liaison with Simon Property Group. He was responsible for the continuous evaluation of operations to improve efficiency and developing new tools and processes to maximize productivity. Additionally, Gary was the CEO and Founder of a food and beverage recruiting and staffing company, which scaled to approximately 8,000 staff and 2,000 business users in the Detroit market. Previous roles include Senior Vice President, Head of Global Compensation & Human Resources, Americas at Sotheby's New York and London as well as Senior Vice President, Head of Global Compensation and HR Technology at Sotheby's.

Chard holds a Bachelor of Arts in Business & Sports Studies from Southampton Solent University. Additionally, he holds a Human Resources Leadership Academy Certification from the Corporate Leadership Council and has taken multiple Human Resources Studies courses at Cornell University.

Chard said, "I'm thrilled to join such a trusted and respected company with so much potential. There is a huge opportunity ahead of this team, and I'm excited for the chance to help Hagerty take full advantage of it while providing an amazing level of service for enthusiast buyers and sellers."

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. These forward-looking statements reflect Hagerty's current expectations and projections with respect to its expected future business and financial performance, including, among other things: (i) expected operating results, such as revenue growth and increases in earned premium; (ii) changes in the market for Hagerty's products and services, (iii) Hagerty's plans to expand market share, including planned investments and partnerships; (iv) anticipated business objectives; and (v) the strength of Hagerty's business model. These statements may be preceded by, followed by or include the words "aim," "anticipate," "believe," "estimate," "expect," "forecast," "future," "goal," "intend," "likely," "outlook," "plan," "potential," "project," "seek," "target," "can," "could," "may," "should," "would," "will," the negatives thereof and other words and terms of similar meaning.

A number of factors could cause actual results or outcomes to differ materially from those indicated by these forward-looking statements. These factors include, among other things, Hagerty's ability to: (i) compete effectively within its industry and attract and retain members; (ii) maintain key strategic relationships with its insurance distribution and underwriting carrier partners; (iii) prevent, monitor and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages with its technology platforms or third-party services; (v) accelerate the adoption of Hagerty's membership products as well as any new insurance programs and products; (vi) manage the cyclical nature of the insurance business including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims; (vii) comply with the numerous laws and regulations applicable to Hagerty's business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet and accounting matters; (ix) manage risks associated with being a controlled company; and (x) other risks and uncertainties indicated from time to time in documents filed or to be filed with the Securities and Exchange Commission (the "SEC") by Hagerty.

The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in the Company's other press releases, reports and other filings with the SEC. Understanding the information contained in these filings is important in order to fully understand Hagerty's reported financial results and our business outlook for future periods.

About Hagerty, Inc. (NYSE: HGTY)

Hagerty is an automotive lifestyle brand committed to saving driving and fueling car culture for future generations. The company is a leading provider of specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events and automotive entertainment custom made for the 67 million Americans who self-describe as car enthusiasts. Hagerty also operates in Canada and the U.K. and is home to Hagerty Drivers Club, a community of over 800,000 who can't get enough of cars. As a purpose-driven organization, Hagerty Impact aims to be a catalyst for positive change across the issues that matter most to our teams, our members, the broader automotive community, our shareholders and the planet at large. For more information, please visit www.hagerty.com or connect with us on Facebook, Instagram, Twitter and LinkedIn. More information can be found at newsroom.hagerty.com.

Category: Financial

SOURCE Hagerty