Angi has appointed Michael Steib as chief executive officer with immediate effect, handing the home services marketplace to an operator who has run three consumer internet businesses and who joined its board only weeks earlier.
Steib, 50, became an Angi director in August 2026. He was president and chief executive of TEGNA from August 2024 until May 2026, a period that ended with the broadcaster's acquisition by Nexstar Media Group in March 2026. Before that he was chief executive of Artsy from 2019 to 2024, and chief executive of XO Group, the parent of The Knot, from 2013 to 2019, where the company says the share price tripled before the merger with WeddingWire. Earlier roles were at Vente Privee USA, Google and NBCUniversal, and he served on the board of Ally Financial from 2015 to 2024.
A pay package built around the share price
The terms filed with the appointment are unusually pointed. Steib takes a salary of one dollar and no cash incentive. He receives one million restricted stock units vesting over four years, and a further one million performance units that vest only against share price hurdles of 10, 12, 14 and 20 dollars. His initial term runs six years.
That structure says more about the board's diagnosis than any statement of strategy would. A chief executive paid a token salary against staged price hurdles is being hired to re-rate the equity, not to steward it, and the hurdles put a number on what the board thinks is achievable and over what period.
An orderly transition at the top
Jeffrey W. Kip hands over the chief executive role and stays on as a non-employee adviser through 22 March 2027, which keeps institutional knowledge available through the first two quarters of the new term. Joey Levin moves from executive chairman to chairman, a narrowing of his day to day involvement that gives the incoming chief executive more room.
Levin said Steib was "bringing enormous energy and spot-on experience to Angi" and that "his palpable excitement for the brand and the product will be quickly apparent to Angi's customers." Steib set out the product case: "Angi has an important mission, helping homeowners when they need it and delivering business to hard-working professionals. We're going to use the revolutionary power of AI to make our products better for both."
The marketplace problem he inherits is the familiar one for the category, which is matching homeowners to tradespeople reliably enough that both sides come back. Two of Steib's three previous chief executive roles, at The Knot and at Artsy, were marketplaces of exactly that shape, which is the clearest reason the board reached for him rather than a broadcaster's operating record.
