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Frontdoor CEO Rexford Tibbens Quits; Chairman William Cobb Named Chief Executive

Frontdoor, Inc. (FTDR), a provider of home service plans, said on Friday that its Chief Executive Officer Rexford Tibbens is stepping down.

Subsequently, the company has appointed its Chairman William Cobb as successor of Tibbens with effect from June 1.

Cobb has been serving as Chairman of the firm since October 2018 and had played an instrumental role since it became public.

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. I am confident that the Frontdoor team is making the right decisions to address the current macroeconomic headwinds and that we will emerge stronger because of the improvements we are making today."

In connection with Cobb's assumption of both the Chairman and CEO roles, the independent directors have elected Brian McAndrews to serve as the Board's lead independent director.

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