Angie's List CEO William Oesterle Plans To Step Down; Backs FY15 Revenue View

(RTTNews) - Angie's List (ANGI) announced that William Oesterle plans to step down as Chief Executive Officer and member of the Board of Directors. Oesterle has agreed to remain in his current role as CEO until a successor is appointed, and he will serve on the Board of Directors at least through the remainder of his current term.

Oesterle, co-founder of the Company, has served as Chief Executive Officer since January 1999 and on the Board since the inception of Angie's List in June 1995.

The Nominating and Corporate Governance Committee of the Company's Board of Directors has initiated a search to identify a new CEO. Internal and external candidates will be considered. The Company has retained Spencer Stuart, a leading executive search firm, to assist in the process.

The company also announced that it confirmed its previously announced 2015 revenue guidance and raising its 2015 adjusted EBITDA guidance. Revenue is expected to be in the range of $357 million to $363 million. Analysts polled by Thomson Reuters expect the company to report revenues of $360.00 million for fiscal year 2015. Analysts' estimates typically exclude special items.

The company now expects 2015 Adjusted EBITDA to be in the range of $30 million to $32 million, an increase from prior guidance of $28 million to $30 million, due primarily to efficiencies in operating expenses.