Angi Inc. announced a leadership transition on September 22, 2026, appointing Michael Steib as Chief Executive Officer to succeed Jeffrey W. Kip. The changes are effective immediately. Mr. Steib, a current member of the board of directors, will also continue to serve on the board. Concurrently, Joseph Levin stepped down as Executive Chairman and will now serve as Chairman of the Board.
Mr. Steib, age 50, brings extensive executive experience in digital media and technology. His most recent role was President and CEO of TEGNA Inc. (NYSE: TGNA), a position he held from August 2024 until the company’s acquisition by Nexstar Media Group in May 2026. Prior to TEGNA, he served as CEO of Artsy, Inc., an online marketplace for fine art, and as CEO of XO Group Inc., the parent company of The Knot.
Jeffrey Kip will remain with the company as a non-employee advisor through March 22, 2027, to assist with the transition. In connection with his departure, Mr. Kip entered into a separation agreement. This agreement provides for severance benefits, including an additional cash payment of $325,000 and coverage for COBRA premiums for up to 18 months. He is also entitled to vest in 55,000 restricted stock units (RSUs) and 166,667 RSUs upon the last day of the consulting period, subject to specific conditions.
Mr. Steib has entered into a new employment agreement with an initial term of six years. The agreement stipulates an annual base salary of $1.00 and no cash incentive opportunity. However, he has been granted significant equity awards, including 1,000,000 RSUs and 1,000,000 performance-based RSUs (PSUs). The PSUs are contingent upon the achievement of specific stock price hurdles over four years, ranging from a $10.00 to a $20.00 volume-weighted average closing price. Upon a Change in Control, the RSUs will vest in full, and the PSUs will vest based on the consideration paid per share.
