Michael Darrow, who holds a B.S. in Economics from Allegheny University, has a solid background in the automotive industry. He was appointed as the Interim President and CEO of TrueCar in May 2019 following Victor Perry's retirement. Prior to that,...

Number of Employees

324

Year

2019

Total Compensation

$720.00K

Salary

$400.00K

Board Justification

The compensation philosophy emphasizes 'at-risk' pay (both cash incentives and equity incentives) while providing competitive packages to retain and motivate key talent.

Bonus

$300.00K

Board Justification

The bonus payout to Mr. Darrow was determined by estimating half of his target bonus opportunity for 2019 with additional consideration for his role as Interim President and CEO in leading a strong second half operational performance.

Other

$20.00K

Board Justification

Mr. Darrow received a monthly stipend of $20,000 during his service as Interim President and CEO, in addition to his base salary.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock was vested in 2019 as the focus is on cash compensation and performance-based bonuses.

Performance Metrics

The performance metrics for the bonus were based on the company's operational performance in the second half of 2019.

SEC Filing

From April 8, 2020

Michael Darrow

CEO of TrueCar

T

Education

B.S. in Economics from Allegheny University

Field of Expertise

Manufacturing & Industrial - Automotive

Born

Invalid Date - 0 years ago

Is Founder?

No

Current Tenure

5 years 6 months (May 2019 - Present)

Previous Experience

Automotive Industry Consultant for Inventory Command Center LLC, CEO of Edmunds Data Services