Frontdoor, Inc. announced that William C. Cobb, chairman of the Frontdoor board of directors, will succeed Rexford J. Tibbens, President and a member of Frontdoor's board of directors, effective June 1, 2022. Tibbens has decided to step down from these roles and will remain with Frontdoor through June 30, 2022 in an advisory capacity to ensure a smooth leadership transition. Cobb has served as chairman of the Frontdoor board of directors since October 2018 and has been an instrumental guide to the company since it became public.

He is an experienced executive with a wealth of knowledge in technology and online-focused business. His career success, which includes the consistent achievement of strong business growth and stellar overall results, reflects his visionary leadership. Most recently, Cobb served as president and chief executive officer of H&R Block, Inc., a provider of income tax return preparation and related services and products from May 2011 through July 2017.

In connection with Cobb's assumption of both the chairman and Chief Executive Officer roles, and in accordance with Frontdoor's corporate governance guidelines, the independent members of the board of directors elected Brian McAndrews to serve as the board's lead independent director. Among other things, as lead independent director, McAndrews will be responsible for presiding at executive sessions of the independent directors, facilitating communications between the independent directors and senior management, and calling meetings of the independent directors, as necessary. The board believes that the responsibilities of the lead director will help to assure effective oversight of management and promote the optimal functioning of the board.