YayYo, Inc. Appoints Ramy El-Batrawi as Chief Executive Officer and Director
March 04 2020 - 8:30AM
YayYo, Inc. (OTC: YAYO) (“YayYo” or the “Company”), a leading
vehicle provider to gig economy rideshare and delivery drivers
through its wholly-owned subsidiary, Rideshare Rentals, has
appointed Ramy El-Batrawi as chief executive officer and a member
of its board of directors, effective immediately. Boyd Bishop will
step down from his role as president and has agreed to serve as a
consultant to the Company going forward.
El-Batrawi is the original founder of YayYo and served as its
CEO until February 2019. He is a highly accomplished entrepreneur
with over three decades of experience leading high-growth
companies. El-Batrawi is also the founder of X, LLC, a private
investment firm focused on acquiring companies and implementing
effective growth strategies. Over his extensive career, he has
founded several other notable companies.
“Ramy’s return as CEO is an important step forward for the
Company given his intimate knowledge of the Company’s operations
and the rideshare industry and his proven track record of executing
growth strategies and developing strategic partnerships,” said
Stephen Sanchez, chairman of YayYo’s board. “The board unanimously
approved his appointment as we have the utmost confidence that he
is the right person to take the company to its fullest potential.
We look forward to Ramy’s leadership and operational rigor as we
look to continue expanding our geographical footprint and add more
vehicles to our fleets across the country.
“I would also like to thank Boyd Bishop for his service and
dedication to YayYo as he remains with the Company as a consultant
to advise on key partnerships and go-to-market strategies.”
Commenting on his appointment, El-Batrawi stated: “YayYo has an
innovative platform for gig economy drivers, providing access to
vehicles with the necessary requirements to drive for various
rideshare and delivery companies. As the founder and one of the
largest shareholders of YayYo, I believe I am very well aligned
with all shareholders to deliver long-term value and position YayYo
as the premier car rental servicing platform for the gig economy. I
look forward to once again leading the YayYo team as we
aggressively strive to grow our footprint, pursue strategic
partnerships and further optimize our operations.”
At his request, El-Batrawi will not receive compensation in
connection with his appointment as chief executive officer or his
service on YayYo’s board of directors.
About YayYo, Inc.YayYo, Inc., traded on the OTC
Pink Market under the symbol “YAYO,” is a holding company with a
mission to bridge the gap between gig economy drivers who need
vehicles and transportation network and delivery companies that
depend on attracting and keeping drivers. One of the company’s
wholly-owned subsidiaries, RideShare Rental, is a proprietary
platform that rents vehicles with approved gig economy insurance to
rideshare drivers and provides fleet operators with a platform to
manage their vehicle rental fleets. Distinct Cars, another
wholly-owned subsidiary, maintains a growing fleet of new standard
passenger vehicles and rents these vehicles directly to rideshare
drivers. Through RideShare Rental and Distinct Cars, YayYo seeks to
become the preeminent provider of rental vehicles to drivers in the
gig economy. For more information, please visit YayYo.com.
Caution Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements. Words such as “anticipates,” “believes,” “estimates,”
“expects,” “forecasts,” “intends,” “is likely,” “plans,”
“predicts,” “projects,” “may,” “could,” “look forward,” “continue”,
“future” and variations of such words and similar expressions are
intended to identify such forward-looking statements. These
statements reflect current beliefs as to the expected outcomes of
future events and are not guarantees of future performance. These
statements involve certain risks, uncertainties and assumptions
that are difficult to predict with regard to timing, extent,
likelihood and degree of occurrence. Therefore, actual results and
outcomes may materially differ from what may be expressed, implied
or forecasted in such forward-looking statements. These risks and
uncertainties are further defined in filings and reports by the
Company with the U.S. Securities and Exchange Commission (SEC).
Company Contact:investors@yayyo.com
Investor Relations Contact:Sean Mansouri, CFA
or Cody CreeGateway Investor
Relations949-574-3860YAYO@gatewayir.com
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