RentPath, parent company of Apartment Guide, Rent.com, Rentals.com, New Home Guide and Lovely, has appointed company veteran Kim Payne as interim president and chief executive officer, following the announcement that Chip Perry has accepted a unique opportunity to return to the automotive industry. Payne, who has been with the company for more than two decades, has held several leadership positions and will maintain her current duties as chief financial officer.
“As our longest serving executive, we are thrilled that Kim will assume the interim leadership role at RentPath,” said David Trujillo, Chairman of the Board, RentPath and a partner at TPG. “Her proven track record as a leader in the industry and deep understanding of our customers and employees will enable us to maintain our standard of excellence while executing on our focused strategic and operational plans. We thank Chip for his contributions and wish him well as he returns to the automotive industry where he has built a formidable career as one of the best in the business.”
During her time at RentPath, Payne has played a pivotal role in the company’s success, particularly as the portfolio transitioned from print to digital. Her financial stewardship of RentPath included the acquisition of several important assets which have helped the company grow its subscription customer base by over 100 percent, and total leads by nearly 80% percent, over the last three years. Kim has overseen the continued investment of tens of millions of dollars over that period in proprietary content to directly address the needs of the consumer searching for an apartment, including over 4 million HD photos, tens of thousands of HD videos and panoramic property tours, over 400,000 digitally enhanced floor plans, and a growing database of hundreds of thousands of resident ratings and reviews from actual residents. Kim will continue to build on the company’s strong 2015 business growth, which included setting all-time Company records for revenues, customer count and qualified leads.
“I am honored to assume the leadership role at the company that I have called home since 1991. During my time here, we have grown tremendously and the best is yet to come. There is no question we are poised to continue our leading market position by partnering with our customers to help them realize their business priorities,” said Payne.
“RentPath is an incredible company with a bright future ahead, which made my decision to leave incredibly difficult. It’s no secret that I have a passion for the automotive industry and have been presented with a unique opportunity to build on my experience from AutoTrader,” said Perry. “I’ve enjoyed working with Kim and the RentPath leadership team and am confident that they will continue their track record of success.”
While serving as interim President and CEO, Payne will also maintain her role as CFO. The Board of Directors is embarking on a thorough search to identify the most qualified external candidates.
“As a trusted advisor and member of the leadership team, Kim’s experience and background have been essential to our ability to capitalize on opportunities in the marketplace. The Board is confident in her leadership and ability to maintain RentPath’s status as the premier destination for individuals looking for rental properties,” saidMichael Dominguez, a managing director at Providence Equity Partners and RentPath board member.