CarLotz names chief commercial officer, general counsel

Chesterfield County-based CarLotz Inc., a consignment dealer of used cars, announced Tuesday it has hired Becca Polak as the company’s inaugural chief commercial officer and general counsel, effective Oct. 30. 

Polak joins CarLotz — which in late October announced plans to go public and expand nationwide — from Carmel, Indiana-based KAR Global, a company that also facilitates used car sales. In her new role, she will oversee commercialization initiatives, corporate vehicle sourcing partner development and client acquisition. She will report directly to co-founder and CEO Michael Bor.

“I’ve known Becca and admired her work at KAR Global and TradeRev for many years,” Bor said in a statement. “Her experience as an entrepreneurial business leader with deep knowledge of the used vehicle and remarketing industry will be instrumental in driving ongoing growth for CarLotz, as we look toward national expansion and the company’s next phase.”

Polak most recently served as president of TradeRev, a KAR Global subsidiary. She earned her bachelor’s degree in English from Indiana University Bloomington and her juris doctorate from Southern Methodist University Dedman School of Law.

CarLotz, which is valued at $827 million, will combine with Miami-based Acamar Partners Acquisition Corp., a publicly traded special purpose acquisition company, to make it a public company in the fourth quarter of this year. At closing, the company name will remain CarLotz Inc. and will be listed on the Nasdaq and trade under LOTZ. Founded in 2011 by local entrepreneurs Bor, Aaron Montgomery and Will Boland, CarLotz opened its first store in Midlothian and later expanded to Henrico County, Richmond, Chesapeake as well as North Carolina, Florida, Texas and Illinois. The company now has eight locations and sells vehicles via its online platform.

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