YAYO YayYo Inc (CE)

YayYo, Inc. (NASDAQ: YAYO) (“YayYo” or the “Company”), a leading provider of vehicles to the rideshare industry through its wholly-owned subsidiary, Rideshare Rentals, has appointed three new independent directors to its board, effective January 24, 2020, and announced that CEO Jonathan Rosen has resigned from his position, effective January 26, 2020. Current President Boyd Bishop will assume responsibility for leading the operations and strategic direction of the Company.

Bishop has been serving as president of YayYo and Rideshare Rentals since his appointment earlier this year. Previously, he was the vice president of business development at Fair.com, an automotive fintech company that is revolutionizing the car-buying experience for the rideshare industry. While in this role, Bishop was responsible for developing and leading Fair.com’s strategic partnerships with Uber, Assurant and Ally, and was instrumental in expanding the company’s user base.

“Boyd is a proven automotive industry executive with a deep understanding of our business and the mobility market we serve,” said Stephen Sanchez, newly-elected chairman of the board. “He has a strong track record of driving growth and establishing meaningful strategic partnerships with the leaders of the rideshare industry. Since taking over Rideshare Rentals’ operations in early January, he has already begun to deploy several initiatives to expand our geographical footprint across the U.S. and rapidly increase vehicle deployment. The board has the utmost confidence that Boyd is best suited to lead Rideshare Rentals into its next phase of growth.”

Bishop commented on his appointment: “In my short time since leading Rideshare Rentals, the opportunity set for this robust platform has become even more apparent. Rideshare Rentals has established a strong foundation from which to build, and our ability to reduce friction for drivers and enable them to more seamlessly access vehicles to serve the mobility industry is a critical need. I look forward to leveraging my extensive network and rideshare experience as we further build our team and capabilities to deliver on our ambitious goals and maximize shareholder value.”

On January 24, 2020, YayYo appointed Stephen Sanchez, Douglas Mox and Jack O’Neill to the board of directors, replacing Jeffrey Guzy, Paul Richter and Christopher Miglino. Sanchez was also elected as the Company’s chairman of the board. YayYo continues to have five directors, with four serving independently.

Stephen SanchezSanchez brings nearly three decades of experience in operations and engineering management, with a proven ability to create and implement efficient solutions designed to expand global networks. Currently, he is senior vice president of operations and business development for Boxbot, a revolutionary logistics company applying autonomous vehicle technology to solve last-mile delivery challenges. Prior to Boxbot, Sanchez served in several senior level roles at notable companies, including Amazon.com, DHL Express, Lasership and National Express. He holds a Bachelor of Arts in business administration from California State University, San Bernardino.

Douglas MoxMox currently serves as chief operating officer for Grace Thomas Investments, a private equity firm focused on multiple vertical markets, including automotive and healthcare. He is a seasoned finance and logistics professional with more than 20 years of senior leadership experience. Previously, Mox was a senior manager at DHL Express, where he designed, implemented and oversaw the execution of various projects within the corporate industrial engineering department. Prior to DHL Express, he served in several managerial roles for UPS. Mox holds an MBA from The Ohio State University.

Jack O’NeillO’Neill is an accomplished operations director with over two decades of senior management experience. He is currently the deputy managing director and senior vice president of operations for DHL Express in Beijing, China. Since joining DHL, O’Neill has established a proven track record of delivering profitable growth. He has also successfully integrated a multi-billion dollar acquisition and planned and executed a significant restructuring process. O’Neill holds a Bachelor of Science in business management from Salem State University, along with various global leadership program certificates from Deutsche Post World Net and Stanford University.

About YayYo, Inc.YayYo bridges the gap between rideshare drivers needing a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. YayYo uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. YayYo seeks to become the preeminent provider of rental vehicles to drivers in the ever-expanding ridesharing economy. For more information about YayYo, please visit our website at www.yayyo.com.

Company Contact:Boyd BishopPresidentboyd@yayyo.com

Investor Relations Contact:Sean Mansouri, CFA or Cody CreeGateway Investor Relations949-574-3860YAYO@gatewayir.com