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New CEO for IMotors

January 08, 2001

IMotors, a San Francisco company that sells used cars over the Web, is expected to announce today that Lloyd Ward, former chief executive of Maytag, will join the company as chief executive.

Ward, 51, is expected to lead expansion efforts at IMotors. The company finds used cars at consumers' request, then sends the cars to one of its three factories for inspection and reconditioning.

Ward quit Maytag in November after a stormy tenure as CEO of the appliance giant since 1999. He had been president since 1996. He previously held senior positions at Procter & Gamble and PepsiCo.

In September, IMotors raised $62 million in venture capital. Backers include Global Retail Partners, a Los Angeles venture fund.

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