TrueCar CEO Retires

Chip Perry, who has led TrueCar Inc. since 2015, is retiring from the online car buying service. 

Michael Darrow has been named interim president and CEO. He currently is executive vice president of partner and OEM development, and he leads TrueCar’s ALG subsidiary. Darrow previously worked at Edmunds.com, including stints as sales chief and head of data services.

During his tenure, Perry is credited with rebuilding TrueCar’s dealer relations following a dispute with mega-dealer AutoNation Inc. under former CEO and founder Scott Painter. The company has grown its dealer count 9% in recent years and now has more than 16,500 affiliated stores. AutoNation rejoined TrueCar in 2016.

Perry will serve as an advisor to TrueCar for an unspecified period. He previously helped launch rival AutoTrader and led that company for several years, including overseeing acquisitions of Kelley Blue Book and several other services.