Autobytel’s Lorimer Quits, Schwartz In
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Mark Lorimer quit as president and chief executive of Autobytel Inc. “to pursue other interests,” the online auto marketer said.
Lorimer was replaced by Jeffrey Schwartz, who came on board Aug. 14 when Autobytel acquired rival Autoweb.com Inc. Schwartz, who was Autoweb’s president and chief executive for two years, became Autobytel’s vice chairman at the time.
Schwartz said Lorimer’s departure was amicable.
“It’s a perfectly logical time in Mark’s career for him to make a change,” Schwartz said. “Mark has taken Autobytel to $100 million in sales and break-even, and we’re beginning a new year soon. So it’s a fine transition time.”
Lorimer was not available for comment.
The company’s stock gained 13 cents Wednesday to close at $1.39 a share on Nasdaq. The stock hit its high of $41.88 a share in the days following its initial public offering.
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