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TrueCar's Painter To Step Down As CEO

Scott Painter, the CEO of Los Angeles-based auto purchasing service TrueCar, said Thursday that he will be stepping down as CEO of the company by the end of the year. Painter will remain as Chairman of the board, and will continue as CEO as the company searches for a new chief executive. Painter has been CEO of the company since he founded TrueCar in 2005. Painter has recently been battling issues with the auto industry and dealers, who have been unhappy with company's data sharing policies--as well as the company's focus on providing consumers with realistic, upfront pricing and price transparency.


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