Angi Homeservices announced Tuesday that it is appointing Chief Product Officer Brandon Ridenour as its new CEO.
Current CEO Chris Terrill will stay in the role until the end of the year, at which point he will step down from the position as well as from his role on the board.
Angi Homeservices was created following the merger of Angie's List, a service that provides recommendations of home improvement professionals, and IAC's HomeAdvisor, which connects homeowners with such professionals. The company had its initial public offering last October.
Terrill, who had previously served as CEO of HomeAdvisor, took the helm of the combined company following the merger. After stepping down as CEO, he will continue to stay with the company as an advisor.
Shares were unchanged in after-hours trading following the news.