Shift Technologies, Inc. announced that its Board of Directors has appointed Ayman Moussa as Chief Executive Officer, effective immediately June 9, 2023. Mr. Moussa, age 42, founded and developed one of the largest automotive multi-franchised and pre-owned dealership groups in the San Francisco Bay Area, Carnamic. Mr. Moussa has served as a director and in various executive management roles, including Chief Executive Officer, of the Carnamic group entities in the past five years.

Mr. Moussa has also served as a senior advisor to Flux EV, Inc., dba Zevvy, an electric vehicle financing company, since June 2021. Mr. Moussa holds a Doctor of Education in Organizational Leadership and a Master of Science in Information Systems from the University of San Francisco, and a Bachelor of Science in Computer Science from the Lebanese American University. Mr. Moussa succeeds Jeff Clementz, who will remain with the Company as a strategic advisor to Moussa, the Board, and the management team during a transition period.

Mr. Clementz will step down from the Board effective immediately.