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Hagerty Appoints Patrick McClymont as new Chief Monetary Officer, Publicizes Deliberate Retirement and Transition for Longtime CFO Fred Turcotte

TRAVERSE CITY, Mich., Aug. 23, 2022 /PRNewswire/ — Hagerty (HGTY) introduced right now that Patrick McClymont has been named Hagerty’s subsequent Chief Monetary Officer, efficient September 6, 2022. He’ll succeed present CFO Fred Turcotte, who will retire however will stay with the corporate in a senior advisor position by 2023 to assist guarantee a seamless transition.

“On behalf of the Board of Administrators and management crew, we’re grateful for Fred’s many contributions and the impression he has made on Hagerty, together with the vital position he performed in delivering constant development over the past decade, serving to us full our preliminary public providing and constructing skilled finance and IR features,” mentioned McKeel Hagerty, Chief Govt Officer of Hagerty. “Fred has been an distinctive CFO, a trusted advisor and a pal for a few years, and whereas this announcement comes with blended feelings, he leaves Hagerty in a powerful place for future development.”

“It has been an honor to work with our excellent crew daily to assist drive development and nice monetary outcomes for Hagerty,” mentioned Turcotte. “I am very happy with the work we have achieved collectively and I am assured Patrick will proceed to construct on our momentum as Hagerty enters the following section of its journey as a development firm.”

Hagerty continued, “Patrick brings an unimaginable wealth of expertise from the leisure and market sectors wanted to assist execute our long-term world development ambitions. His monetary and enterprise acumen mixed along with his deep expertise expertise will assist us ship worth to our members and shareholders as we proceed Hagerty’s transformation into a number one automotive way of life model. Along with being a talented CFO, Patrick is a powerful chief who has developed high-performing groups throughout a number of publicly traded organizations.”

McClymont is a trusted enterprise chief with a confirmed observe report of modernizing and aligning monetary technique and operations to construct enterprise worth, enhancing aggressive positioning and maximizing shareholder worth. He brings a strategic method to monetary management by leveraging knowledge and analytics to optimize efficiency.

Most not too long ago, McClymont was the CFO of Orchard Applied sciences, a residential actual property providers firm. He has held numerous senior management roles past finance the place he developed and executed world methods for company development throughout a number of sectors together with leisure, enterprise providers and industrials. That is along with his expertise as CFO for 2 publicly-listed corporations together with IMAX Company, an leisure expertise firm, and Sotheby’s, a frontrunner in auctions, personal artwork gross sales and lending.

Previous to Sotheby’s, McClymont served as Head of the World Transportation & Infrastructure Group at Goldman, Sachs & Co., the place he was a companion. Along with his government position, McClymont at present serves as a director on the board of Customary Motor Merchandise, a main producer and distributor of substitute elements for motor automobiles within the automotive aftermarket business.

“I am excited to work with a dynamic management crew that’s centered on delivering high quality services to its members, companions and the huge group of automotive fanatics,” mentioned McClymont. “Constructing on the corporate’s success, I stay up for serving to Hagerty develop and execute a world technique that can drive robust, sustained monetary development and worth for stakeholders lengthy into the longer term. I am delighted to be a part of the highway forward.”

About Hagerty, Inc. (NYSE: HGTY)

Primarily based in Traverse Metropolis, Michigan, Hagerty’s goal is to avoid wasting driving and automotive tradition for future generations and its mission is to construct a world enterprise to fund that goal. Hagerty is an automotive fanatic model providing built-in membership merchandise and packages in addition to a specialty insurance coverage supplier centered on the worldwide automotive fanatic market. Hagerty is dwelling to Hagerty Drivers Membership, DriveShare, Hagerty Valuation Instruments, Hagerty Media, Hagerty Drivers Membership journal, MotorsportReg, Hagerty Storage + Social, The Amelia, the Concours d’Magnificence of America, the Greenwich Concours d’Magnificence, the California Mille, Motorlux, Broad Arrow Group, the Hagerty Drivers Basis and extra. For extra data on Hagerty, please go to www.hagerty.com, or join with us on Fb, Instagram and Twitter.

For extra data, go to newsroom.hagerty.com.

Ahead-Trying Statements
This press launch comprises forward-looking statements throughout the that means of the Non-public Securities Litigation Reform Act of 1995. These statements mirror our present intentions, expectations, or beliefs relating to the enterprise. As a result of forward-looking statements relate to the longer term, they’re topic to inherent dangers and uncertainties which can be troublesome to foretell and could also be exterior of our management. A number of the elements which will trigger our precise outcomes to vary materially from these contemplated by our forward-looking statements embody: (i) our capability to acknowledge the anticipated advantages of the topic of this press launch; (ii) our capability to compete successfully inside our business and appeal to and retain members; and (iii) the opposite dangers and uncertainties listed in our Kind 10-Okay filed with the U.S. Securities and Change Fee (“SEC”) on March 24, 2022. This press launch ought to be learn along with the data included in our different press releases, reviews and different filings with the SEC. Understanding the data contained in these filings is essential in an effort to absolutely perceive our reported monetary outcomes and our enterprise outlook for future durations. We don’t undertake any obligation to publicly replace or assessment any forward-looking assertion, whether or not on account of new data, future developments, or in any other case, besides as required by regulation. 

SOURCE Hagerty

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