Cars Commerce Names Tobias Hartmann as Next Chief Executive Officer, Succeeding CEO Alex Vetter Effective January 15, 2026

Rhea-AI Summary

Cars Commerce (NYSE: CARS) named Tobias Hartmann as Chief Executive Officer and director, effective January 15, 2026. Hartmann will succeed Alex Vetter, who will step down as CEO and board member on that date and serve as an advisor through March 31, 2026 to support the transition. Hartmann brings more than 25 years of experience across B2C and B2B technology, eCommerce and marketplaces, including CEO and chairman roles at Scout24 and senior leadership at HelloFresh and eBay Enterprise carve-outs.

The board described a comprehensive succession process and cited Hartmann’s track record in scaling digital businesses, while Vetter—company leader since 1998 and CEO since 2014—will exit the CEO and board roles to enable the leadership change.

Positive

• Tobias Hartmann named CEO effective January 15, 2026
• Hartmann appointed to the Board effective January 15, 2026
• Hartmann has 25+ years of B2C and B2B technology experience
• Hartmann led Scout24 to record revenue and margin growth
• Alex Vetter will support transition as advisor through March 31, 2026

Negative

• Long-time CEO Alex Vetter steps down from CEO and Board on January 15, 2026
• Advisor transition window limited to ~2.5 months (through March 31, 2026)

Key Figures

CEO transition date January 15, 2026 Effective date for Tobias Hartmann becoming CEO and director

CEO advisory end March 31, 2026 Alex Vetter advisory role through this date

Leadership experience More than 25 years Hartmann’s experience in B2C and B2B technology and marketplaces

Company launch year 1998 Alex Vetter’s tenure since Cars.com launch

CEO appointment year 2014 Year Alex Vetter was appointed CEO

Market Reality Check

$12.83 Last Close

Volume Volume 1,179,764 vs 20-day average 765,956 (1.54x typical activity before this news). high

Technical Shares at $13.38, trading above the $11.78 200-day MA ahead of the CEO change.

Peers on Argus

CARS gained 0.53% while peers were mixed: EVER -1.25%, FVRR -2.3%, GRPN +1.37%, GETY -8.16%, MAX -1.09%, pointing to a stock-specific reaction to the leadership news.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 04	Executive appointment	Positive	-2.0%	Named new CTO to drive innovation and AI platform scaling.
Nov 20	AI survey insights	Positive	-1.3%	Released consumer survey showing strong AI influence on car shopping.
Nov 06	AI product launch	Positive	+6.5%	Launched Carson AI search engine with stronger engagement metrics.
Nov 06	Q3 2025 earnings	Positive	+6.5%	Reported record Q3 revenue and solid adjusted profitability metrics.
Oct 31	Industry report	Neutral	+1.2%	Published Q3 auto market insights on pricing, EV values and inventory.

Pattern Detected

Recent news shows mixed reactions: strategic and AI product updates sometimes saw gains, while leadership and survey news occasionally coincided with modest declines.

Recent Company History

Over the last few months, Cars Commerce announced multiple strategic developments, including AI engine Carson, AI survey insights, a Q3 $181.6M revenue record, and an executive technology hire. Market reactions ranged from -2.02% to +6.53%, indicating variability in how investors have treated positive operational updates. Today’s CEO succession announcement fits into this broader pattern of ongoing leadership and platform evolution following acquisitions and AI-driven initiatives.

Market Pulse Summary

This announcement outlines a planned CEO transition on January 15, 2026, with outgoing CEO Alex Vetter advising through March 31, 2026. It follows a period of executive changes, strong Q3 performance and AI-driven product launches. Investors may monitor how Tobias Hartmann’s marketplace and SaaS background supports Cars Commerce’s existing strategy, how leadership continuity is maintained, and whether future updates on growth, margins and platform expansion reinforce recent operational momentum.

Key Terms

b2c technical

"track record for scaling digital B2C and B2B companies as part of company's"

Business-to-consumer (B2C) describes companies that sell products or services directly to individual customers rather than to other businesses. Investors care because B2C firms’ revenues, growth and risks are driven by consumer demand, brand strength and marketing — like a shop whose success depends on foot traffic and repeat shoppers — so shifts in consumer tastes, pricing power or distribution can quickly affect sales and profitability.

b2b technical

"track record for scaling digital B2C and B2B companies as part of company's"

Business-to-business (B2B) describes companies that sell products or services to other businesses rather than to individual consumers. For investors, B2B models often mean larger, repeatable contracts and revenue tied to corporate budgets, which can produce steadier, more predictable cash flow; think of a parts supplier selling regular batches to a factory rather than a shop selling single items to walk-in customers, so customer concentration and contract length matter.

ecommerce technical

"across B2C and B2B technology, eCommerce and marketplace companies."

Ecommerce is the buying and selling of goods and services over the internet, using websites, apps or online marketplaces and the digital tools that handle payment and delivery—think of it as a virtual shopping mall. For investors, ecommerce matters because it shapes how companies grow revenue, reach customers and control costs: strong online sales and efficient delivery can boost profits and scalability, while weak user engagement, high logistics expenses or fierce competition can hurt valuations and cash flow.

omnichannel technical

"new service-provider for omnichannel and commerce technology solutions."

A coordinated approach to selling and serving customers across all touchpoints—stores, websites, mobile apps, social media, and call centers—so the experience feels like one continuous conversation no matter where a customer interacts. For investors, omnichannel capability signals how well a company can attract and keep customers, turn interactions into sales, and use shared customer data to cut costs and boost revenue—making it a key driver of growth and competitive strength.

vertical saas technical

"into a vertical SaaS platform that powers the automotive industry."

Vertical SaaS is cloud software sold on a subscription basis that is built specifically for a single industry or profession, not as a one-size-fits-all product. For investors, these niche solutions can mean steadier, predictable revenue and stronger customer loyalty because the product fits the customer's daily work like a specialized tool, but they also face limits on how quickly they can expand beyond their industry.

AI-generated analysis. Not financial advice.

Industry veteran to pass the reins to accomplished leader with proven track record for scaling digital B2C and B2B companies as part of company's CEO succession plan

CHICAGO, Dec. 18, 2025 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) (d/b/a "Cars Commerce Inc."), today announced that Tobias ("Tobi") Hartmann will become the company's next Chief Executive Officer (CEO) and be appointed to the Board of Directors, effective January 15, 2026. Hartmann succeeds 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 facilitate a smooth transition.

Hartmann has more than 25 years of experience delivering growth and creating long-term shareholder value across B2C and B2B technology, eCommerce and marketplace companies. Most recently, he was CEO and Chairman of the Management Board for Scout24 SE Group, the parent company for ImmoScout24, one of the leading European digital real estate marketplaces, where he transformed the company's strategy and accelerated revenue and margin growth to new record levels. Previously, Hartmann served as President U.S. and member of the Executive Management Board of HelloFresh SE, helping the global food solutions company to become the U.S. market leader. Prior to that, he led the carve-out of eBay Enterprise from eBay Inc. to form a new service-provider for omnichannel and commerce technology solutions.

"Tobi brings strong sector experience and a proven track record of growing businesses to deliver meaningful customer, consumer and shareholder value," said Scott Forbes, Chairman of the Board. "The Board has executed 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 truly grateful to the Board of Directors for the opportunity to build on the strong foundation and work to accelerate the growth profile of Cars Commerce," said Hartmann. "It's an exciting time to leverage digital tools, data and AI to help our customers better compete and grow in the automotive retail and wholesale space. I am excited to join this talented and committed team, and I look forward to building the next chapter of growth and innovation together."

Hartmann succeeds Vetter, who has been with Cars.com since its launch in 1998 and has held a variety of roles until he was appointed CEO in 2014. He has maintained Cars.com's status as one of the most recognized American automotive marketplace brands. Vetter was instrumental in transforming the company from its original affiliate classifieds model into a vertical SaaS platform that powers the automotive industry. He has led the company through strategic acquisitions to broaden 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 serving as an industry advocate in local and federal lobbyist activities, industry coalitions and philanthropy.

"It has been an honor to lead this organization through many transitions. I am excited to hand the reins to Tobi to drive further growth of the company. Cars.com was one of the early innovators that spawned the online car shopping experience and pioneered many firsts in the automotive retail industry – from the first mobile app to the largest dealer review platform to enabling operations with digital tools and data," said Vetter. "I am immensely grateful to the team and proud of what we've built together. I'm confident that Tobi will continue our momentum for the next chapter of firsts. He will be a tremendous 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 fortified 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 incredible steward of the company and advocate for the industry. We are thankful for his leadership and transformation, 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 everything about car buying and selling with powerful products, solutions and AI-driven technologies that span pretail, retail 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 Cars.com, 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 www.carscommerce.inc.

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SOURCE Cars.com Inc.

FAQ

Who is the new CEO of Cars Commerce (CARS) and when does he start?

Tobias Hartmann will become CEO of Cars Commerce (CARS) effective January 15, 2026.

What role will outgoing CEO Alex Vetter have after January 15, 2026 for CARS?

Alex Vetter will step down as CEO and board member on January 15, 2026 and serve as an advisor through March 31, 2026.

Will Tobias Hartmann join the Cars Commerce board of directors (CARS)?

Yes. Hartmann will be appointed to the company's Board of Directors effective January 15, 2026.

What relevant experience does Tobias Hartmann bring to Cars Commerce (CARS)?

Hartmann brings over 25 years of experience scaling B2C and B2B tech and marketplaces, including leadership at Scout24 and HelloFresh.

How long has Alex Vetter served at Cars Commerce before stepping down as CEO?

Alex Vetter has been with the company since 1998 and served as CEO since 2014.