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SANTA MONICA, Calif., Jan. 12, 2018 /PRNewswire/ -- ALG, the industry benchmark for determining the future resale value of a vehicle and wholly-owned subsidiary of TrueCar, announced today that following a successful 13-year tenure as the president of ALG and co-founder of TrueCar, Jim Nguyen will officially leave the company in November. ALG also announced that Mike Darrow, executive vice president of TrueCar's OEM and Partner Development businesses was selected to assume the role of president, effective January 15, 2018.
Nguyen will continue as a strategic advisor until his departure on November 1, 2018.
As a co-founder of TrueCar in 2005, Nguyen held several leadership positions before being appointed president of ALG in 2015. During his time at TrueCar, he was the CFO and executive vice president, leading the company's corporate and business development as well as the overall management of TrueCar's affinity partner channel.
"We are grateful for his commitment and leadership over the years," said Chip Perry, president and chief executive officer. "We look forward to working with Jim and Mike over the course of the coming year to ensure the company is positioned for success during this transition."
A recognized industry veteran, Darrow joined TrueCar in March of 2017 and has achieved significant traction within both the OEM and affinity partner businesses. Over the course of his tenure with the company, Darrow has deepened and broadened relationships with existing OEMS and affinity partners, and has also successfully added new partner relationships and OEM programs.
"I am extremely excited to join the ALG team," said Darrow. "ALG is the industry authority on automotive residual value projections and has a deep understanding of OEM product and pricing plans. In the coming year, we will explore ways to provide greater value by better leveraging all the talent, resources and expertise across both ALG and TrueCar. We look forward to continuing to deliver world class comprehensive analysis and insights to our clients across the industry."
Founded in 1964 and headquartered in Santa Monica, California, ALG is an industry authority on automotive residual value projections in both the United States and Canada. By analyzing nearly 2,500 vehicle trims each year to assess residual value, ALG provides auto industry and financial services clients with market industry insights, residual value forecasts, consulting and vehicle portfolio management and risk services. ALG is a wholly-owned subsidiary of TrueCar, Inc., a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars. ALG has been publishing residual values for all cars, trucks and SUVs in the U.S. for over 50 years and in Canada since 1981.
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