An industry veteran to hand over leadership to a seasoned executive with a demonstrated history of scaling digital B2C and B2B companies as part of the company’s CEO succession plan

CHICAGO, Dec. 18, 2025 — Cars.com Inc. (NYSE: CARS) (d/b/a “Cars Commerce Inc.”), today announced that Tobias (“Tobi”) Hartmann will assume the role of the company’s next Chief Executive Officer (CEO) and join the Board of Directors, effective January 15, 2026. Hartmann will succeed Alex Vetter, who will step down as CEO and a member of the company’s Board of Directors, effective January 15, 2026. Vetter will serve as an advisor to the company from that date through March 31, 2026 to ensure a smooth transition.

Hartmann has over 25 years of experience driving growth and generating long-term shareholder value across B2C and B2B technology, e-commerce, and marketplace companies. Most recently, he served as CEO and Chairman of the Management Board for Scout24 SE Group, the parent company of ImmoScout24—one of Europe’s leading digital real estate marketplaces—where he transformed the company’s strategy and accelerated revenue and margin growth to new record levels. Previously, Hartmann held the position of President U.S. and was a member of the Executive Management Board at HelloFresh SE, aiding the global food solutions company in becoming the U.S. market leader. Prior to that, he led the spin-off of eBay Enterprise from eBay Inc. to establish a new service provider for omnichannel and commerce technology solutions.

“Tobi brings deep industry expertise and a proven track record of growing businesses to deliver meaningful value for customers, consumers, and shareholders,” said Scott Forbes, Chairman of the Board. “The Board has conducted a comprehensive CEO succession process, and we are confident that Tobi is the right leader to accelerate growth and guide the company into the future.”

“I am deeply grateful to the Board of Directors for the opportunity to build on this strong foundation and work to enhance the growth trajectory of Cars Commerce,” said Hartmann. “This is an exciting time to leverage digital tools, data, and AI to help our customers better compete and grow in the automotive retail and wholesale sectors. I am eager to join this talented and dedicated team, and I look forward to co-creating the next chapter of growth and innovation together.”

Hartmann succeeds Vetter, who has been with Cars.com since its launch in 1998 and held various roles before being appointed CEO in 2014. He has maintained Cars.com’s status as one of the most recognized American automotive marketplace brands. Vetter was pivotal in transforming the company from its original affiliate classifieds model into a vertical SaaS platform that powers the automotive industry. He has guided the company through strategic acquisitions to expand its platform capabilities, including Dealer Inspire websites, AccuTrade appraisal technology, and DealerClub wholesale dealer-to-dealer transactions. Vetter has also championed the local dealer retail system and franchise model, acting as an industry advocate in local and federal lobbying efforts, industry coalitions, and philanthropic activities.

“It has been an honor to lead this organization through multiple transitions. I am excited to hand the leadership reins to Tobi to drive further growth for the company. Cars.com was among the early innovators that pioneered the online car shopping experience and introduced many firsts in the automotive retail industry—from the first mobile app to the largest dealer review platform, and enabling operations with digital tools and data,” said Vetter. “I am deeply grateful to the team and proud of what we have built together. I am confident that Tobi will sustain our momentum for the next chapter of industry firsts. He will be an exceptional leader for this next phase of growth.”

Forbes added, “On behalf of the Board and the entire organization, I want to thank Alex for his visionary leadership. He is a deeply respected and beloved leader who has strengthened the company into a technology platform and solutions provider for the automotive industry while also building a world-class company and team. Alex has been an outstanding steward of the company and advocate for the industry. We are thankful for his leadership and the transformations he has driven, which will enable continued growth and scale.”

About Cars Commerce
Cars Commerce is an audience-driven technology company empowering the automotive industry. The Company simplifies all aspects of car buying and selling through powerful products, solutions, and AI-driven technologies that span pre-sale, sale, and post-sale activities—enabling more efficient and profitable retail operations. The Cars Commerce platform is organized around industry-leading brands: the flagship automotive marketplace and review site, digital retail technology and marketing services from Dealer Inspire, essential trade-in and appraisal technology from AccuTrade, a reputation-based dealer-to-dealer wholesale auction from DealerClub, and exclusive in-market media solutions from the Cars Commerce Media Network. Learn more at .

SOURCE Cars.com Inc.