Irving-based RumbleOn Inc. has hired Mark Tkach, the co-founder of RideNow powersports group, to serve as interim chief executive officer after the resignation Thursday of Marshall Chesrown from that role.
RumbleOn is the nation’s first technology-based powersports platform, and it acquired RideNow in August 2021. Tkach is a major shareholder, the company said. During Tkach’s interim service, the board’s executive transition committee will continue its efforts to identify a permanent CEO.
“We thank Mr. Tkach for his willingness to assist during this time of transition and are confident that his deep knowledge and experience in the powersports industry will provide enhanced opportunities for operational excellence as the company works to identify a permanent successor,” Steve Pully, chairman of the RumbleOn board of directors, said in a statement.
In a regulatory filing, RumbleOn disclosed allegations surrounding Chesrown’s use of company resources, according to a Benzinga report. The company has hired independent counsel to assist in an investigation, which is ongoing, the report said.
RumbleOn also said it has agreed with the Coulter-Tkach Group to resolve all outstanding proxy matters currently subject to contest at its annual shareholders meeting on July 14.
Under the agreement, the company’s board will temporarily grow from seven to nine members to allow Melvin Flanigan, a retired executive from RV retail giant Camping World Holdings, and Tkach to immediately join.
Along with reorganizing board committees, the agreement includes naming Pully as board chair.
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