Hagerty (HGTY) announced today that Patrick McClymont has been named Hagerty’s next Chief Financial Officer, effective September 6, 2022. He will succeed current CFO Fred Turcotte, who will retire but will remain with the company in a senior advisor role through 2023 to help ensure a seamless transition.
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“On behalf of the Board of Directors and leadership team, we are grateful for Fred’s many contributions and the impact he has made on Hagerty, including the critical role he played in delivering consistent growth over the last decade, helping us complete our initial public offering and building experienced finance and IR functions,” said McKeel Hagerty, Chief Executive Officer of Hagerty. “Fred has been an exceptional CFO, a trusted advisor and a friend for many years, and while this announcement comes with mixed emotions, he leaves Hagerty in a strong position for future growth.”
“It has been an honor to work with our outstanding team every day to help drive growth and great financial results for Hagerty,” said Turcotte. “I’m very proud of the work we’ve accomplished together and I’m confident Patrick will continue to build on our momentum as Hagerty enters the next phase of its journey as a growth company.”
Hagerty continued, “Patrick brings an incredible wealth of talent from the entertainment and marketplace sectors needed to help execute our long-term global growth ambitions. His financial and business acumen combined with his deep technology experience will help us deliver value to our members and shareholders as we continue Hagerty’s transformation into a leading automotive lifestyle brand. In addition to being a skilled CFO, Patrick is a strong leader who has developed high-performing teams across several publicly traded organizations.”
McClymont is a trusted business leader with a proven track record of modernizing and aligning financial strategy and operations to build business value, enhancing competitive positioning and maximizing shareholder value. He brings a strategic approach to financial leadership by leveraging data and analytics to optimize performance.
Most recently, McClymont was the CFO of Orchard Technologies, a residential real estate services company. He has held various senior leadership roles beyond finance where he developed and executed global strategies for corporate growth across multiple sectors including entertainment, business services and industrials. This is in addition to his experience as CFO for two publicly-listed companies including IMAX Corporation, an entertainment technology company, and Sotheby’s, a leader in auctions, private art sales and lending.
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Prior to Sotheby’s, McClymont served as Head of the Global Transportation & Infrastructure Group at Goldman, Sachs & Co., where he was a partner. In addition to his executive role, McClymont currently serves as a director on the board of Standard Motor Products, a leading manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry.
“I’m excited to work with a dynamic leadership team that is focused on delivering quality products and services to its members, partners and the vast community of automotive enthusiasts,” said McClymont. “Building on the company’s success, I look forward to helping Hagerty develop and execute a global strategy that will drive strong, sustained financial growth and value for stakeholders long into the future. I’m delighted to be part of the road ahead.”
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