- Push-out Score determined
- After about four years in the position
- Praise and thanks for Tibbens
- Bill Cobb taking over
- Tibbens said 78 words
(exechange) — Memphis, Tennessee, May 20, 2022 — Rex Tibbens, chief executive of Frontdoor, leaves. As announced by Frontdoor Inc. in a news release and in a regulatory filing published on Friday, May 20, 2022, Rexford J. (Rex) Tibbens leaves his post as chief executive officer at the provider of home service plans, after about four years in the role, effective June 1, 2022.
Rex Tibbens’s duties as CEO will be taken over by William C. (Bill) Cobb, most recently chairman at Frontdoor Inc.
“Grow demand, accelerate our digital transformation, advance the customer experience, and strengthen our business processes”
Frontdoor did not give an explicit reason for Rex Tibbens’s departure from the CEO post. Cobb said: “We have a solid foundation and I look forward to continuing our efforts to grow demand, accelerate our digital transformation, advance the customer experience, and strengthen our business processes.”
Tibbens stated: “After a successful spin-out into a public company, rebuilding core systems and processes, and 16 consecutive quarters of profitable growth, I feel the company is ready for its next chapter and would like to thank all of our team members, contractors, and customers. After a short break, I plan to work in venture capital, helping the Frontdoors of tomorrow envision the world ahead of them.”
“Step down/resignation”
Frontdoor said: “William Cobb, chairman of the Frontdoor board of directors, will succeed Rexford Tibbens, President, Chief Executive Officer and a member of Frontdoor’s board of directors, effective June 1, 2022. Tibbens has decided to step down from these roles and will remain with Frontdoor through June 30, 2022 in an advisory capacity to ensure a smooth leadership transition.”
Frontdoor further said: “On May 19, 2022, Rexford J. Tibbens, President, Chief Executive Officer and a member of the board of directors (the “Board”) of Frontdoor, Inc. (the “Company”) notified the Board of his resignation from all positions with the Company, effective as of June 1, 2022 (the “Effective Date”).”
Share price decline since May 2019
The announcement follows a decline in Frontdoor Inc.’s share price of 26% since May 2019.
In the position of CEO since 2018
Rex Tibbens became CEO of the Company in 2018.
Tibbens has served as the President and Chief Executive Officer and as a member of the Board of Directors of the Company since May 2018.
From April 2015 to December 2017, Tibbens served as the chief operating officer of Lyft, a leading on-demand transportation company based in San Francisco, California.
While at Lyft, Tibbens worked to expand the service to every state and launched crucial strategic initiatives, including Lyft’s Nashville support center and Express Drive, a program that allowed potential Lyft drivers to rent vehicles so they could provide service in select cities.
From August 2011 to March 2015, Tibbens served as a vice president at Amazon.com, Inc., a global e-commerce and technology company, where he led the technical and product development of Prime Now, Amazon’s one-hour delivery service.
Before Amazon, Tibbens spent twelve years at Dell Inc., a global technology company, serving in a variety of operations and logistics roles, including as executive director of Global Services.
Tibbens currently serves on the board and is a member of the audit and compensation committees of Arrival, a global manufacturer of electric vehicles.
Tibbens is a graduate from the University of Kentucky, with a Bachelor’s degree in Finance, and also holds an M.B.A. from Case Western Reserve University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Rex Tibbens’s move on a scale of 0 to 10.
exechange reached out to Frontdoor and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 21.2022 ($).