Denise Barrett-Baxendale believes the multi-year shirt sponsorship deal with Cazoo is the 'perfect' complement for Everton and their ambitions.
Chief financial officer Sasha Ryazantsev also believes the agreement will 'resonate' with supporters due to the values of the online car retailer.
Cazoo will feature on the front of men's first-team playing and training kits from next season after Everton struck a premature end with previous sponsor Sport Pesa in February.
Everton chief executive Barrett-Baxendale said: “We are delighted to welcome Cazoo as our new main club partner and shirt sponsor.
"We have been impressed with the approach that Cazoo has taken and are confident that they will be a great partner for the club and our fans in the years to come.
"We are looking forward to working closely with them and are in no doubt that the values of Cazoo and the company’s focus on innovation and future development complement perfectly our own ambitions as we embark on an exciting new chapter for the club.”
Ryazantsev added: “In our search for a new partner, we were hoping to find a dynamic brand with strong growth potential and we have certainly found that with Cazoo.
”As a disruptor brand in their industry, Cazoo represents the best of British in terms of innovation and agility, and these values really resonate with Everton and our fans.
“Despite only launching last year, Cazoo is already transforming the way consumers purchase cars and has also proven its resilience through the coronavirus pandemic.
"Our partnership will help Cazoo extend its reach and audience significantly to continue its impressive growth trajectory. We have been really impressed by Alex and his team and look forward to working with them over the coming years.”
Cazoo are set to become the only British owned brand as the main sponsor of a Premier League club next term.
CEO and founder Alex Chesterman said: "We are really excited to be partnering with Everton, a family club with a rich heritage and a passionate and loyal fanbase.
"This opportunity will help significantly enhance our brand awareness as we look to make Cazoo a household name.
"We look forward to working closely with the Club as part of our mission to provide the best possible car buying experience to UK consumers.”
