RICHMOND, Va.--(BUSINESS WIRE)--CarLotz, Inc., a leading consignment-to-retail used vehicle marketplace, which recently announced it would become a public company via a merger that is subject to closing conditions with special purpose acquisition company Acamar Partners Acquisition Corp. (Nasdaq: ACAM), announced today that Michael Chapman has been appointed Chief Marketing Officer, effective immediately. Chapman will report to CarLotz CEO and co-founder, Michael Bor.
“Michael Chapman is a brand builder, with unrelenting ambition and a track record of marketing success. He is exactly what we need at this time and I couldn’t be happier to welcome him as our new CMO, to strengthen our position as a disruptor and industry leader,” said Michael Bor, CEO and co-founder of CarLotz. “I am confident that with Michael leading our corporate and hub-level marketing initiatives, we will be able to effectively communicate our unique and differentiated value proposition to execute on our growth initiatives and deliver against our long-term strategic goals.”
Chapman brings more than two decades of experience as a dynamic marketer and strategic planner to CarLotz, one of the used vehicle industry’s fastest growing marketplaces. Most recently, Chapman served as the Chief Growth Officer of The Martin Agency (“Martin”), based in Richmond, Virginia, which was recently named Adweek’s U.S. Agency of the Year. Over the years Chapman has worked across a number of categories and brands including UPS, Walmart, DoorDash, Intel, Heinz and Oreo.
“I have spent my professional life helping inject brands into the cultural conversation and driving growth,” said Chapman. “Creativity is essential in transforming businesses. I can’t wait to use everything I’ve learned over the years to help supercharge this next phase of growth for CarLotz.”
As part of Martin’s executive leadership team, Chapman oversaw brand strategy across all of Martin’s clients, while also being the lead architect of The Martin Agency’s own brand identity. In 2017 he was promoted from Chief Strategy Officer to Chief Growth Officer, helping orchestrate a turnaround in how the agency approached and won new business. The agency went from a win rate of less than 20% in 2017 to a win rate of over 90%, the highest in agency history. As a result, Martin has been an ad industry outlier with a 30% uptick in new and organic revenue growth—in a year where most of the industry has contracted.
Chapman continued, “CarLotz is an exceptional company with a compelling and unique business model that will change the way consumers and businesses think of the used car market. The Company’s mission to create the world’s greatest vehicle buying and selling experience is inspiring and I’m thrilled to work with Michael and the outstanding CarLotz team.”
Prior to Martin, Mr. Chapman served as Senior Planner for McCann, where he led global strategy for UPS, helping establish its positioning as one of the top three shipping and logistics companies in China. Chapman received his undergraduate degree from the University of Virginia, where he also received his MBA from the Darden School of Business.
About CarLotz, Inc.
CarLotz is a used vehicle consignment and Retail Remarketing™ business that provides our corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to access the previously unavailable retail sales channel, while simultaneously providing buyers with prices that are, on average, below those of traditional dealerships. Our mission is to create the world’s greatest vehicle buying and selling experience. We operate a technology-enabled buying, sourcing and selling model that offers a seamless omni-channel experience and comprehensive selection of vehicles while allowing for a fully contactless end-to-end e-commerce interface that enables no hassle buying and selling. Our proprietary Retail Remarketing™ technology provides our corporate vehicle sourcing partners with real-time performance metrics and data analytics along with custom business intelligence reporting that enables price and vehicle triage optimization between the wholesale and retail channel. Through our marketplace model, we generate significant value for both sellers and buyers through price, selection and experience. For more information, visit www.carlotz.com.
About Acamar Partners Acquisition Corp.
Acamar Partners Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Acamar Partners Acquisition Corp. raised $305.6 million in its initial public offering in February 2019 (and subsequent exercise of the underwriters’ over-allotment option). The company’s securities are quoted on Nasdaq under the ticker symbols ACAM, ACAMW and ACAMU. For more information, visit www.acamarpartners.com.
