Frontdoor Marks One-Year Milestone with Continued Focus on Growth and Transformation

Tuesday, October 1, 2019 7:45 am CDT




Public Company Information:

"Our journey is off to a great start"

MEMPHIS, Tenn.--(BUSINESS WIRE)--Today, Frontdoor (NASDAQ:FTDR), the nation’s leading provider of home service plans, celebrates its one-year anniversary as an independent public company on a mission to take the hassle out of owning a home. The company intends to continue building on the momentum created during the past year through growth in its core business and efficiency improvements, as well as investments in leadership, technology infrastructure and the service experience.

“Our journey is off to a great start,” said Rex Tibbens, Frontdoor president and CEO. “I’m really proud of the culture of accountability and innovation that we’re building, as well as the velocity of change that we’re driving across the business – especially in such a relatively short period of time.”

The company’s four brands, American Home Shield, HSA, Landmark and OneGuard, provide more than two million homeowners with professional repair services for major home systems and appliances, including help with budget protection against the cost of these unexpected breakdowns. Through a national network of more than 16,000 service contractor firms, Frontdoor brands manage over four million service requests annually.

Frontdoor’s flagship brand, American Home Shield, has managed more than 65 million service requests since founding the home warranty industry in 1971. Tibbens says this experience, coupled with the company’s commitment to service and innovation, is part of what makes Frontdoor uniquely positioned to become the go-to marketplace for solving home repair and maintenance needs.

“We have the benefit of more than 45 years of expertise serving homeowners, and the energy and mindset of a billion-dollar startup,” said Tibbens. “We have a tremendous team of dedicated employees across all of our brands who are obsessed over solving problems for homeowners and transforming our business, as well as the broader home services industry.”

A few highlights from the past year include:

  • Frontdoor has emphasized an investment in infrastructure, opening a new technology center in Denver. The location brings additional capacity to the company’s technology and engineering teams based in Memphis, Phoenix and other locations. The Denver site will help the company accelerate the pace of innovation as it builds products, platforms and service enhancements to transform its operations and the $400 billion home services industry.
  • Frontdoor has made strategic hires over the last year, bringing on leaders with experience in disrupting industries and with pedigrees that include some of the world’s leading consumer brands.
  • In June, Frontdoor launched electronics and smart device coverage through its American Home Shield and HSA brands, making the company one of the first home warranty providers to offer these plans.

To mark its one-year anniversary, employees are giving back to the communities where they live and work through Good Day 2019, Frontdoor’s inaugural company-wide day of service which will be held on Friday, Oct. 4. In all, more than 2,000 employees will be involved in activities that will benefit over 30 non-profit organizations across the country.

“We are just getting started. I’m more bullish about the opportunity ahead of us than ever before. I am so proud of the work our teams are doing and look forward to finding innovative, new ways to better serve our customers and bring them even more value, while expanding our reach to serve even more homeowners,” said Tibbens.

About Frontdoor

Frontdoor is a company that’s obsessed with taking the hassle out of owning a home. With services powered by people and enabled by technology, it is the parent company of four home service plan brands: American Home Shield, HSA, Landmark and OneGuard. Together, it serves more than two million customers across the U.S. through a network of more than 16,000 pre-qualified contractor firms that employ over 45,000 technicians. The company’s customizable home service plans help customers protect and maintain their homes from costly and unexpected breakdowns of essential home systems and appliances. With more than 45 years of experience, the company responds to over four million service requests annually (or one request every eight seconds).

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Nicole Ritchie