Cars Commerce will have a new CEO in mid-January.

The company announced Thursday that Alex Vetter will step down from the role and from the board on Jan. 15, and that the new CEO will be Tobias Hartmann, who will also join the board.

Vetter will serve as an advisor to the company from Jan. 15 through March 31 to facilitate a smooth transition.

Hartmann’s most recent role was as CEO and chairman of the management board at Scout24 SE Group, parent company to the ImmoScout24 digital real estate company in Europe.

His executive experience also includes roles at HelloFresh and eBay.

“Tobi brings strong sector experience and a proven track record of growing businesses to deliver meaningful customer, consumer and shareholder value,” board chairman Scott Forbes said in a news release. “The board has executed a comprehensive CEO succession process, and we are confident that Tobi is the right leader to accelerate growth and guide the company into the future.”

Hartmann added, “I am truly grateful to the board of directors for the opportunity to build on the strong foundation and work to accelerate the growth profile of Cars Commerce. It’s an exciting time to leverage digital tools, data and AI to help our customers better compete and grow in the automotive retail and wholesale space. I am excited to join this talented and committed team, and I look forward to building the next chapter of growth and innovation together.”

Vetter has been with Cars.com since its 1998 launch and has been CEO since 2014. He helped guide the company from its original affiliates classifieds model into a vertical SaaS platform for the auto industry. As CEO, he led the acquisitions of platforms like Dealer Inspire, AccuTrade and DealerCub that broadened the company’s services into providing websites, appraisal technology and digital dealer-to-dealer wholesale.

In the release, Vetter said: “It has been an honor to lead this organization through many transitions. I am excited to hand the reins to Tobi to drive further growth of the company. Cars.com was one of the early innovators that spawned the online car shopping experience and pioneered many firsts in the automotive retail industry – from the first mobile app to the largest dealer review platform to enabling operations with digital tools and data.

“I am immensely grateful to the team and proud of what we’ve built together. I’m confident that Tobi will continue our momentum for the next chapter of firsts. He will be a tremendous leader for this next phase of growth.”

Forbes added, “On behalf of the board and the entire organization, I want to thank Alex for his visionary leadership. He is a deeply respected and beloved leader who has fortified the company into a technology platform and solutions provider for the automotive industry while also building a world-class company and team. Alex has been an incredible steward of the company and advocate for the industry. We are thankful for his leadership and transformation, which will enable continued growth and scale.”