TrueCar announced Monday morning that Chip Perry — who started what it is now known as Autotrader — will be its next president and chief executive officer.
That move becomes effective Dec. 15, when TrueCar founder Scott Painter formally steps down from his CEO, chairman and board of directors posts.
In 1997, Perry became the first employee of what is now Autotrader. He was CEO until 2013.
“I’ve followed TrueCar’s progress for many years and am truly excited to be joining the company. TrueCar has built incredible tools for car buyers and retailers and has a strong base on which to grow,” Perry said. “My initial focus will be on TrueCar’s dealer partners – listening to them and finding ways to serve them better.”
Perry added: “I know as well as anybody what is required to take the spark of an idea and turn it into a thriving business, and that is what Scott did for TrueCar. Thanks to his leadership we have an extremely strong management team, a talented and enthusiastic employee base and an unflagging commitment to improving the car-buying experience for both consumers and dealers. I will put my full energy into helping TrueCar become all it can be.”
Painter noted: “As founder of TrueCar, I’m proud of what we’ve accomplished, but it’s time for a change and we have found exactly the right person for the job.”