While its overall consumer credit readings might be stable, there’s been a significant change in top leadership at VantageScore.

Last week, the company announced that Silvio Tavares made the decision to step down as president and chief executive officer after five years of successfully leading VantageScore “during a period of significant growth.”

VantageScore’s board has appointed Anthony Hutchinson, who has led the company’s public affairs and government relations efforts as interim president and chief executive officer.

According to a news release, a formal leadership search is being conducted by VantageScore’s board.

VantageScore’s board issued the following statement: “We thank Silvio Tavares for his five years of strong leadership of VantageScore. During his tenure, VantageScore more than tripled its market presence and achieved numerous breakthroughs including widespread adoption in the U.S. mortgage credit-scoring market, further strengthening VantageScore’s leadership position in credit scoring. VantageScore is well-positioned for continued growth and innovation as the fastest-growing credit modeling company in the U.S., driving ongoing adoption of more predictive, inclusive tri-bureau credit scoring models.”

Tavares added, “I am humbled by all that VantageScore has achieved during my tenure. Together, we consistently delivered industry leading innovation and growth at a very high scale. Along the way VantageScore responsibly expanded access to credit so that millions more creditworthy Americans can achieve their American dream.”

Hutchinson has more than 30 years of housing finance, public policy, and industry leadership experience.

Prior to joining VantageScore four years ago, Hutchinson held senior positions at Freddie Mac, Fannie Mae and the National Association of Realtors.

As interim president and CEO, he will work closely with the VantageScore board and management team.

VantageScore said Hutchinson’s deep knowledge of the business and strong relationships with customers, partners, and industry stakeholders will further advance the company’s strategic priorities.

“VantageScore is helping lenders make more predictive, inclusive and informed decisions across the credit lifecycle,” Hutchinson said. “We are delivering strong business momentum and growing market adoption of the most predictive, innovative and inclusive tri-bureau models and attributes in the U.S. market.

“I look forward to working with the VantageScore management team and board of directors to build on our success and to drive continued innovation that opens up more financial opportunities for more consumers.”