RumbleOn taps Rath as interim CFO, adds Levy to board
RumbleOn made a trio of executive-level moves on Thursday; one triggered by unforeseen circumstances.
According to news releases from the e-commerce company that leverages technology in an effort to simplify how dealers and consumers buy, sell, trade or finance pre-owned vehicles, RumbleOn announced that Beverly Rath will act as interim chief financial officer, effective immediately. The change follows the unexpected death of RumbleOn co-founder and CFO Steven Berrard on June 7.
The company said Rath will report to RumbleOn chairman and chief executive officer Marshall Chesrown.
The company also announced the promotion of Carlos Ramirez to assistant controller as well as the appointment of RumbleOn chief operating officer Peter Levy to its board of directors.
However, what’s top of mind at RumbleOn is the loss of Berrard.
“We are incredibly grateful for all of Steve’s contributions to RumbleOn through this period of transformative growth,” Chesrown said in one of the news releases. “Together, we accomplished a great deal over the last several years building RumbleOn, and so much more over the last 25-plus years since he co-founded AutoNation. His legacy will live on and we will honor him by executing our plan to become the first and only omnichannel powersports platform in North America.
“Steve played a critical role in the formation of RumbleOn and will be gravely missed, but I remain as confident as ever in our management team as we shepherd the pending acquisition of RideNow through the closing process,” Chesrown continued.
And part of that management team is Rath, who has served as RumbleOn’s controller since inception, guiding strategic financial decisions and has been integral to the financial health of the company. She has more than 35 years of finance and accounting experience and more than 45 years in the automobile industry.
Prior to joining RumbleOn, Rath served as controller for online vehicle retailer Vroom as well as controller for the Terry Taylor Group, a group of automotive dealerships.
“I am honored to be appointed interim CFO and look forward to contributing to RumbleOn’s future success,” Rath said.
“Steve had a powerful presence and is greatly missed by everyone he worked with, but he built a strong team around him and I will continue to lead RumbleOn’s finance team through our pending combination with RideNow, and as we embark on our next stage of growth,” she continued.
And Chesrown added, “It gives me great confidence to know such a seasoned financial executive is stepping into the role as our interim CFO. Beverly has worked alongside Steve for five years, and has been a key part of our finance organization since the beginning.”
Rath won’t have to do all of the heavy financial lifting alone now that Ramirez is the company’s assistant controller.
“I’m also pleased to announce that Carlos Ramirez was promoted to assistant controller,” Chesrown said. “Carlos has been an integral part of the finance team and will support Beverly as we grow our finance operation. I look forward to working closely with the team as we continue to execute on our existing vision, plan and strategy.”
And in the company’s other major development, Levy became part of the RumbleOn board of directors as of Thursday.
RumbleOn highlighted that Levy has compiled a 25-year distinguished career in both building and consulting technology companies. The company described him as a seasoned sales and marketing leader and has demonstrated his ability to successfully foster relationships with senior executives for IT operations, finance, sales and company building opportunities across a broad scope of industries.
“Peter has been instrumental to the evolution of RumbleOn and we are thrilled to welcome Peter to our board of directors,” Chesrown said in another news release. “Not only is he passionate about the powersports industry, but he has a deep understanding of our business and is highly respected by colleagues across both our organization and RideNow’s.
“He has worked alongside Steve, me and our entire executive team since 2017 and is a natural fit to join our Board as we enter the next stage of growth,” Chesrown added.
Levy joined RumbleOn as COO in August 2017 and has been responsible for building strong relationships with OEMs, dealers, auctions and finance partners, while leading multiple internal teams. He spearheaded the architecture of RumbleOn’s Dealer Direct platform as well as RumbleOn’s pilot program with CarGurus.
As vice president of sales and director of business development for Integrated Auction Solutions (previously AWG Remarketing), Levy played an integral role in the company’s business development and M&A initiatives. He was also responsible for building the company’s digital presence throughout the independent auction community’s 200 locations.
In 1999, RumbleOn recapped that Levy founded Automotive Remarketing Services and co-developed virtual auction processes that exist today. Previously, he served as regional manager of sales and acquisition for AutoNation.
And now Levy is on RumbleOn’s board.
“I am honored to be appointed to RumbleOn’s board of directors,” he said. “I look forward to working closely with Marshall and the entire board as we continue to execute on RumbleOn’s vision to become the only omnichannel powersports platform in North America and transform the powersports industry.”