Scott Painter, TrueCar Inc. founder
TrueCar Inc. founder Scott Painter will step down as CEO later this year, announced the U.S. online, no-haggle car-shopping site after reporting its Q2 earnings.
“After a decade of building TrueCar from an idea into a public company, I have come to the conclusion reached by many founders and entrepreneurs in my position: It is time for a change,” said Painter, in the company’s Q2 earnings release.
The company said Painter will continue to serve as Chairman and will retire as CEO when his successor takes office. Christopher Claus, a current TrueCar director, has been named Lead Independent Director.
TrueCar reported a big second quarter loss of $14.7-million compared to a net loss of $15-million in the same quarter in 2014.
Earlier in July, the company reported it was no longer going to do business with AutoNation Inc., the largest automotive retailer in the U.S., after a dispute over access to customer data.
