Autobytel Inc. Names Richard Walker Senior Vice President Corporate Development and Strategy
IRVINE, Calif.--Jan. 29, 2003--Autobytel Inc. , a leading Internet automotive marketing services company, today announced that Rich Walker, an expert in the areas of mergers and acquisitions, has been named to the newly created position of senior vice president, corporate development and strategy.
Walker, who previously led the domestic corporate development organization at MediaOne Group, which was acquired in mid-2000 by AT&T in a $57 billion transaction, will be responsible for driving the corporate development initiatives of Autobytel Inc., including corporate strategy, mergers and acquisitions, and business alliances.
"Autobytel has established itself as the automotive e-commerce leader. Rich's experience will help us leverage our base as we drive toward a greater share of the $21 billion spent annually on automotive marketing," said Jeffrey Schwartz, president and CEO of Autobytel. "Rich's proven ability to seek out and execute innovative partnerships and create shareholder value provides a perfect fit for Autobytel in this next phase of our development."
Walker has compiled a distinguished roster of accomplishments in corporate development and strategy roles over the past 15 years. Prior to joining Autobytel, Walker was most recently vice president at LoneTree Capital Management, a boutique private equity fund investing in and advising early-stage communications companies. Before LoneTree, Walker served as vice president of corporate development at MediaOne Group, Inc., a multinational broadband and wireless company. In that role he was responsible for directing several strategic corporate and business development initiatives in the United States and Asia-Pacific involving over $8.5 billion of assets. He previously was executive director of corporate development at U S WEST, Inc., a Regional Bell Operating Company (RBOC), where he supported overall corporate and business development efforts at the two largest operating groups, U S WEST Communications Group and U S WEST Media Group, including the $12 billion acquisition of Continental Cablevision in 1996. He originally joined U S WEST in 1990 and previously held leadership positions in investor relations, business development, and strategic marketing. Rich began his career in 1986 as a certified public accountant with Arthur Andersen & Co. in Atlanta, GA, working as a senior staff member in their audit and tax groups as well as their financial consulting services division.
"Autobytel has consistently been an innovator in automotive e-commerce and automotive marketing," said Walker. "I am very pleased to have the opportunity to join this leadership team and help drive our strategic efforts in an industry that is just beginning to recognize -- and re-direct its resources to capture -- the extraordinary marketing power that Autobytel represents."
Rich graduated Magna Cum Laude with a B.S. in Business from the University of Colorado and holds an M.B.A. from the University of Denver, Executive Program.
About Autobytel Inc.
Autobytel Inc. , a leading Internet automotive marketing services company, helps retailers sell cars and manufacturers build brands through marketing, advertising and CRM (customer relationship management) programs. The company owns and operates the automotive websites Autobytel.com, Autoweb.com, Carsmart.com and popular automotive research center, AutoSite.com, as well as AIC (Automotive Information Center), a leading provider of automotive marketing data and technology. Autobytel Inc. is the Internet's largest new-car buying service, and, in 2002, generated over a billion dollars a month in car sales for dealers through its services. Autobytel Inc. is also among the largest syndicated car-buying content networks, reaching millions of unique visitors as they are making their vehicle buying decisions. Autobytel Inc. content and technology has potential exposure to over 94 percent of the active Digital Media Universe(a).
(a) Nielsen/NetRatings Q4 2002 Digital Media Universe Report (Autobytel Inc. is the unduplicated audience of the Autobytel, Autoweb.com, CarSmart and Autosite.com Brands. Autobytel Inc. provides content to the Yahoo!, AOL, MSN portals and various automotive manufacturers' sites. The unduplicated audience of these Brands has an active reach of over 94 percent of the Digital Media Universe.)