TrueCar Inc. announced that Chip Perry, its president and chief executive officer, has retired.

TrueCar is planning for Perry to continue supporting TrueCar in an advisory capacity.

The board has appointed Michael Darrow as interim president and chief executive officer.

Darrow is currently executive vice president of partner & OEM Development and president of ALG. In this role, he has managed TrueCar's exclusive Affinity Partner network, including its USAA partnership, as well as its OEM business.

Prior to joining TrueCar, Darrow held leadership roles over 14 years at Edmunds.com, including as chief executive officer and chief sales officer of Edmunds Data Services.