IRVING, Texas - RumbleOn, Inc. (NASDAQ: RMBL), a leading retailer in the powersports industry, announced today the appointment of Tiffany Kice as its new Chief Financial Officer, effective June 24, 2024. With a career spanning over 25 years, Kice has held financial leadership positions across various sectors, emphasizing her experience with multi-site retail operations.
Kice transitions to RumbleOn from her role as CFO at Pegasus Logistics Group, a role she has held since 2020. Her career began at KPMG in Dallas, and she has since developed a robust background in strategic financial planning, risk management, and leading IT, finance, and human resources teams. Kice is an alumnus of the University of Texas, Austin, holding a B.B.A. in Accounting.
Mike Kennedy, CEO of RumbleOn, expressed confidence in Kice's appointment, highlighting her alignment with the company's growth trajectory and her expertise in handling the financial operations of public and private companies. Kice herself acknowledged the company's rapid expansion in the powersports retail space, expressing enthusiasm for contributing to its ongoing strategy and shareholder value.
RumbleOn operates through two segments, RideNow Powersports and Wholesale Express, LLC. RideNow Powersports claims the title of the largest powersports retail group in the U.S. by reported revenue, unit sales, and dealership locations, offering a vast range of new and pre-owned products, franchises, and services.
This announcement comes as RumbleOn continues to focus on its strategic business transformation, aiming to maintain its position as a dominant force in the powersports retail market. Kice's Texas roots and personal interest in powersports activities, such as waterskiing and ATV riding, complement her professional expertise, potentially offering a unique perspective to RumbleOn's leadership team.
The information in this article is based on a press release statement from RumbleOn, Inc.
In other recent news, RumbleOn Incorporated reported its Q1 financial results, reflecting strategic initiatives under its Vision 2026 plan. The company saw a 4.4% decrease in total powersports major units sold, with a slight increase in new unit sales but a significant drop in pre-owned unit sales. Despite these challenges, RumbleOn's overall EBITDA improved, and the company maintained a strong liquidity position. The company's revenue fell by 8.2% to $293.5 million, while total company EBITDA increased from $4 million to $9 million. RumbleOn is also advancing its strategic pillars, including the opening of its first pre-owned center and a new greenfield franchise location, Indian Motorcycle of Cincinnati. The company is actively discussing potential acquisitions and is committed to achieving its Vision 2026 goals, with plans to generate annual revenues over $1.7 billion and annual adjusted EBITDA of more than $150 million. These developments reflect RumbleOn's strategic focus amid market shifts.
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