RentPath LLC says it has named seasoned digital and mobile executive Marc Lefar President and Chief Executive Officer after an exhaustive search.
The company, which operates Apartment Guide, Rent.com, Rentals.com and Lovely, says Lefar brings a wealth of mobile and digital experience to RentPath, having led the transformation of cloud communications provider Vonage Holdings as CEO from 2008 to 2014.
He is also currently on the Boards of ClassPass and IPC Systems, as well a member of the President’s National Security Telecommunications Advisory Board.
RentPath Chairman and investment company TPG partner David Trujillo says the RentPath board unanimously supported Lefar because of his consistently strong leadership and innovative problem-solving skills across a broad range of companies and industries.
"We are thrilled to have Marc join the RentPath family," Trujillo says.
"His legacy of guiding established brands during periods of major product innovation makes us confident that Marc is the right leader to spearhead the next chapter of our leadership in the industry.
"Kim Payne, who has been serving as interim CEO during the search process, will resume her long-time role as Chief Financial Officer.
“We thank Kim for her dedication, service, and stewardship as interim CEO and look forward to her continued leadership as our Chief Financial Officer,” Trujillo says
RentPath board member and Providence Equity Partners managing director Michael Dominguez adds Lefar has a sterling record of driving results.
"He retains and attracts top talent, creating dynamic teams that successfully build brand equity and adapt to changing markets to deliver the highest value to customers," Dominguez says.
"We’re confident that his breadth and depth of experience will energize the company and forge our path forward to continued leadership.”
Over his 30-year career, Lefar has developed a unique blend of global marketing, product, financial, and operational expertise, leading successful teams across a range of markets and businesses.
In his prior tenure as CEO of Vonage, he led a comprehensive strategic, financial and operational transformation resulting in the successful expansion into new markets while driving dramatic shareholder returns.
Before joining Vonage, Lefar spent more than a decade in executive leadership roles in the wireless industry. He served as Chief Marketing Officer of Cingular Wireless, now AT&T Mobility, responsible for all aspects of marketing strategy and execution.
He played a lead role in the acquisition and successful integration of AT&T Wireless into Cingular in 2005 and later worked with Steve Jobs and his team at Apple during the development of the exclusive partnership to launch the iPhone.
Lefar started his career at Procter and Gamble.
Lefar says he is thrilled to join the RentPath organization.
"I look forward to working with this passionate team and leveraging the latest technologies to delight both apartment-hunting consumers and property advertising customers.
"Today, more people in America are renting than ever before. And as the long-standing industry leader, RentPath is best positioned to create the greatest value for both sides of the digital marketplace.”