Simple Tire Announces Executive Promotion

Bensalem, Pennsylvania, April 25, 2022 – Simple Tire, a leading Philadelphia-based online tire retailer that is part of the Dealer Tire Family of Companies, today announced that Chief Executive Officer Andy Chalofsky will depart Simple Tire as part of a planned succession, promoting President Karthik Iyer to the expanded role of President and CEO. Chalofsky will remain at Simple Tire through the end of June 2022 to ensure a smooth transition, and will continue as a shareholder in the business.

Iyer joined Simple Tire in 2020 as President to accelerate the growth strategy and has successfully doubled the team and grown revenue over 40%. “I have been consistently impressed with Karthik’s ability to scale the company and have full confidence in his capability to lead the team forward,” said Chalofsky. “I am excited to focus on taking a leading role in my other businesses, including a continued partnership with Dealer Tire in a start-up venture. I look forward to continuing my involvement with Simple Tire as a shareholder, advisor and co-founder.”

“I am incredibly excited about the future of Simple Tire and honored to have the opportunity to lead such a passionate and innovative team particularly as we focus on continued growth,” said Iyer. “Our vision, the strength of our team and our unique capabilities in e-commerce puts us in a great position to deliver a best-in-class consumer experience and develop long-term strategic partnerships across the industry.”

In 2012, brothers Andy and current Chief Operating Officer Josh Chalofsky developed the concept for Simple Tire while working in their family's brick and mortar tire business. With their business partner Kenny Pratt, they successfully converted a traditional tire sales business model into a technology-driven model, linking independent tire distributors across the country into one seamless e-commerce network. The rapidly growing company partnered with Dealer Tire in 2018 and has grown more than 200% since then.

Co-founder Josh Chalofsky will remain COO through the end of 2022, when he will join his brother Andy in co-leading other business ventures. Pratt will remain with the Simple Tire organization as Chief Technology Officer. Said Pratt, “Technology has always been at the core of Simple Tire’s success, and I look forward to continuing to lead the business to new heights in the years ahead.”

About Simple Tire

Based in Philadelphia, Simple Tire is an online tire retailer committed to relentlessly reinventing tire replacement to make it way simple, way better. The company's business model links independent tire distributors across the country into one seamless e-commerce network providing customers access to an unparalleled inventory of tires from hundreds of brands. Simple Tire sells tires in all categories, including Passenger, Light truck, Commercial, Agriculture, OTR, Industrial, ATV, Antique and various specialties. In 2022 and 2020, Simple Tire was named the Best Place to Work in the tire industry by Tire Business Magazine and was previously on Inc. Magazine's list of fastest growing companies in 2019. For more information, visit www.simpletire.com.

About Dealer Tire

Dealer Tire was formed out of a family business that was founded in 1999 by the then owners of the former Mueller Tire & Brake, a Cleveland-based retail chain founded in 1918. Today, Dealer Tire’s core business manages replacement tire and parts programs for more than 20 automotive OEMs in the U.S. and China. It serves more than 8,000 automotive dealerships from nearly 40 distribution centers across the U.S. Dealer Tire’s enterprise also includes leaders across the automotive reconditioning, ecommerce and vehicle protection & warranty industry segments through its family of companies. For more information about Dealer Tire, visit www.dealertire.com.

Media contact: Marylou Hegler Director, FP&A, Strategy and Communications Dealer Tire 216.706.4171 mhegler@dealertire.com