TrueCar Names New CEO

Santa Monica-based online car buying startup TrueCar announced today that it has named Chip Perry, the former CEO of, as its new President and CEO. According to TrueCar, Peery will take the reigns at the company effective December 15th, taking over from TrueCar founder Scott Painter, who is stepping down from the company. Painter also leaves the company's board and steps down as chairman. Perry was the first employee of, joining the company in 1997, and becoming CEO of the company and staying until 2013; he also had served at McKinsey & Co., and the Los Angeles Times. Painter said in August that he would step down as CEO, after what had been a very contentious year between TrueCar and the auto dealership industry.