FOR IMMEDIATE RELEASE
Edmunds.com Promotes Jeremy Anwyl to CEO, Avi Steinlauf to President
SANTA MONICA, Calif. — June 12, 2007 — Edmunds.com, the premier online resource for automotive information, today announced that Jeremy Anwyl has been named Chief Executive Officer and Avi Steinlauf has been promoted to President.
Peter Steinlauf, the company's controlling shareholder, retains the title of Chairman. He will continue to serve as Edmunds' senior officer and help shape the company's strategic direction and the implementation of its initiatives.
"I relinquish my CEO title to Jeremy in recognition of the positive momentum of the company. Avi has been preparing for this new role for some time and has my full support and respect as he steps up to the opportunity," he remarked. "The executive team has a great working relationship and we intend to lead Edmunds to greater success."
Nielsen data indicates that consumer penetration on the Internet over the past three years has risen a modest seven percent, that traffic to the automotive Internet has grown 27 percent and that traffic to automotive information sites has grown 24 percent. During this period, traffic to Edmunds' sites has grown over 125%. All of this growth was internally generated; the company has never made an acquisition.
Jeremy Anwyl joined Edmunds in January 2000 as Chief Operating Officer and was promoted to President in November 2000. Born and educated in the United Kingdom, Mr. Anwyl began his U.S. business career consulting for independent automobile dealers. This led him to form Marketec Systems Inc. in 1990, through which he consulted for General Motors, Ford, Toyota and Nissan. Since joining Edmunds, he has led a number of projects that have helped to elevate the company to a leadership position in the automotive industry, top of mind for automotive consumers and executives alike.
Avi Steinlauf has served as Chief Operating Officer of Edmunds since August 2004, and will retain that title as he assumes the role of President. He joined Edmunds in summer of 1998 as the Director of Business Development and has also headed the company's marketing and revenue management areas. Previously, he worked for Coopers & Lybrand's Knowledge Strategies Group. Mr. Steinlauf earned an MBA degree from the Kellogg Graduate School of Management at Northwestern University and a bachelor's degree from Yeshiva College.
About Edmunds Inc. (http://www.edmunds.com/about/)
Edmunds.com, Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value®, is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in 2006 and is an automotive social networking Web site. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.