Business
Porch Group Appoints Rachel Lam and Maurice Tulloch to Board of Directors as Independent Directors
SEATTLE, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing home
About this update from Porch Group, Inc.
[{"type":"text","content":"SEATTLE, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing home services, announced today that Rachel Lam and Maurice Tulloch have been appointed to its Board of Directors, effective August 12, 2021. Thomas Hennessy and Margaret Whelan, directors of the former special purpose acquisition corporation (SPAC) PropTech Acquisition Corporation (PTAC), simultaneously concluded their service on Porch’s Board after helping guide Porch through a successful transition into the public markets. “With solid performance in the public markets thus far since our December 2020 de-SPAC transaction, we felt it was the right time to further strengthen our Board of Directors. We are excited to welcome two highly-qualified and experienced directors to our Board,” said Matt Ehrlichman, founder, chairman and CEO. “Rachel brings significant finance, corporate development, governance, and M&A experience that we believe will be additive to our team and strategy. Maurice brings to us decades of leadership and technical experience in the insurance industry, and we believe his executive and board experience in financial services will be a valuable complement to the Board. We look forward to their contributions as we continue to execute on our strategy and drive sustained growth and returns.” He added, “We wish Tom and Margaret the best in their future endeavors and are appreciative of their partnership to date.” “The PTAC team is incredibly proud of our partnership with Porch Group, including our stewardship of Porch to the public markets,” said Thomas Hennessy, former Chairman and Co-CEO of PTAC. “We believe that Porch has a bright future as the long-term winner in providing software for home services companies and other valuable services for homeowners such as insurance. I am excited about remaining a shareholder. We’re pleased to have worked with Porch’s Board to ensure a smooth transition to the new Directors, who collectively bring the right expertise to help guide the business to the next stage of growth and maturity.” Javier Saade, lead independent director of Porch Group since May 2021, added, “We invested in a thorough search process to find talent that we believe will help Porch bolster independent governance, diversity of perspective, and leverage best-in-...