June 30, 2025 • 20 mins
Bill Cobb is an accomplished leader with expertise in consumer-focused, technology and online-focused businesses. He became chief executive officer of Frontdoor in June 2022 in addition to his role as Chairman of the Board of Directors and is passionate about accelerating the company’s digital transformation, advancing the customer experience, and strengthening core business processes.
He was initially appointed to the Frontdoor board of directors in October 2018. Cobb served on the board of directors of Frontdoor’s former parent company, ServiceMaster Global Holdings, Inc., from April 2018 until Frontdoor separated from ServiceMaster in October 2018.
Previously Cobb served as president and chief executive officer of H&R Block, Inc., a provider of income tax return preparation and related services and products from May 2011 through July 2017. From November 2000 to March 2008, he served in various leadership roles at eBay, Inc., a global commerce, and payments provider, including four years as president of eBay Marketplaces North America and other senior management positions, including senior vice president and general manager of eBay International and senior vice president of global marketing. Prior to joining eBay, Inc., Cobb held marketing and executive positions at PepsiCo (and Tricon Global Restaurants when it was spun off in 1997) from 1987 to 2000. These positions included senior vice president and chief marketing officer for Tricon International, senior vice president and chief marketing officer at Pizza Hut, and vice president, colas at Pepsi Cola. Cobb also currently serves on the board of directors and is chair of the finance committee of Deluxe Corporation, a technology-enabled solution company supporting financial institutions and small businesses.
Cobb holds an undergraduate degree in economics from the University of Pennsylvania and an MBA from the Kellogg School of Management at Northwestern University
He was initially appointed to the Frontdoor board of directors in October 2018. Cobb served on the board of directors of Frontdoor’s former parent company, ServiceMaster Global Holdings, Inc., from April 2018 until Frontdoor separated from ServiceMaster in October 2018.
Previously Cobb served as president and chief executive officer of H&R Block, Inc., a provider of income tax return preparation and related services and products from May 2011 through July 2017. From November 2000 to March 2008, he served in various leadership roles at eBay, Inc., a global commerce, and payments provider, including four years as president of eBay Marketplaces North America and other senior management positions, including senior vice president and general manager of eBay International and senior vice president of global marketing. Prior to joining eBay, Inc., Cobb held marketing and executive positions at PepsiCo (and Tricon Global Restaurants when it was spun off in 1997) from 1987 to 2000. These positions included senior vice president and chief marketing officer for Tricon International, senior vice president and chief marketing officer at Pizza Hut, and vice president, colas at Pepsi Cola. Cobb also currently serves on the board of directors and is chair of the finance committee of Deluxe Corporation, a technology-enabled solution company supporting financial institutions and small businesses.
Cobb holds an undergraduate degree in economics from the University of Pennsylvania and an MBA from the Kellogg School of Management at Northwestern University
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Episode Transcript
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Speaker 1 (00:00):
M and T Bank presents CEOs.
Speaker 2 (00:02):
You should know Howard by iHeartMedia.
Speaker 3 (00:06):
Let's meet Bill Cobb. He is the chairman and CEO
for front Door, Inc. A company that helps homeowners with
home maintenance and repair. They offer home warranties, repair services,
and a subscription based app. Before we talk more about
Bill's company and what it can offer their clients, I
first asked him to talk a little bit about himself,
where he's from and his origin story.
Speaker 1 (00:25):
I was born in Brooklyn, New York.
Speaker 4 (00:27):
Moved to the Jersey Shore when I was two, grew
up in Point Pleasant, New Jersey. Twelve years of Catholic school,
and then I broke my mother's heart when I did
not go to Notre Dame, although I subsequently two of
my sons went there.
Speaker 1 (00:42):
So I made good.
Speaker 2 (00:43):
You made up for it. He made up for it.
Speaker 1 (00:46):
Yeah.
Speaker 4 (00:46):
Now, I went to the University of Pennsylvania undergrad. I
went to the Wharton School there and then did my
further in my business education at northwesterns Kellogg School.
Speaker 1 (00:56):
So I got my MBA at Kellogg.
Speaker 2 (00:58):
What do you want to do coming out of school?
Speaker 1 (00:59):
Well, when I went to penn I thought I wanted
to be a lawyer.
Speaker 4 (01:02):
And then when I got to about sophomore year, I
thought to myself, why don't I want to be a lawyer.
Speaker 1 (01:07):
I think I liked this business stuff, so it kind
of became this.
Speaker 4 (01:15):
I started essentially in marketing and always had an eye
toward could I move from a base of marketing to
more general management.
Speaker 1 (01:24):
Then it's worked out pretty well well, Bill.
Speaker 3 (01:27):
I took a look at your resume and it's very incredible.
I mean, you've done some amazing things, a lot of
leadership roles in there. And as I see you the
last six and a half years, I can see why
front Door Inc.
Speaker 2 (01:38):
Was interested in you. But why were you interested in
joining them as chairman and then CEO?
Speaker 1 (01:43):
Yeah, I was.
Speaker 4 (01:43):
I joined the Service Master board, of which the home
warranty division was one of their divisions, and then they
decided to spin it out, and I just thought it
was a more interesting business than the termite business, which
was Terminix, which was a part of the Service Master.
I wanted to go with the go with the new company,
and once we spun out, then I was elected chairman
(02:06):
by my other board members, and so I was chaired
for about three years and we were doing pretty well.
And then our CEO, for personal reasons, decided to move on.
And we had hit some troubled waters in the second
half of twenty one in the beginning of twenty twenty two.
Speaker 1 (02:27):
And he decided to move on.
Speaker 4 (02:29):
And I felt that the situation was such that I
was going to have We're going to have to get
somebody in there relatively quickly.
Speaker 1 (02:36):
So I talked to the board and I kind of
raised my hand and said, all right, I'll do this,
but I don't want to do it.
Speaker 4 (02:41):
On an interim basis, because I knew that changes were
going to have to happen. So I took over in
June of twenty twenty two and have been both chair.
Speaker 1 (02:50):
And CEO since then.
Speaker 4 (02:51):
So and it's worked out great. We've grown the company nicely.
I got a very good management team run the company
as a virtual company.
Speaker 1 (03:03):
We do get together. We call it meeting with purpose.
Speaker 4 (03:05):
So we do get together about once a month with
my executive team and usually a number of others in
the organization so that we can come together in person.
But it's been exciting too in today's world to run
a virtual company, and I think it takes a lot
of communication. It takes a lot of effort because you
(03:27):
can't just walk down the hall. But I think we've
been pretty successful and we've built a very nice culture here.
Speaker 2 (03:32):
Well that's really cool, and I do want to talk
about that in a little bit.
Speaker 3 (03:35):
But it's about pivoting and it's the new normal for
a lot of people out there, including your company. Before
we talk about your programs, your capabilities, what you do
and your memberships and all the cool things with front Door, Inc.
Let's talk about mission statement.
Speaker 2 (03:46):
What is that?
Speaker 1 (03:47):
Okay? Our mission statement is to make life easier for
every home owner. Our values are to help.
Speaker 4 (03:54):
They're all based on home help, own it, move forward,
and explore. So that we want to give our associates
of belief to do not only own it on it,
be accountable, but also think about new ways and explore.
Speaker 1 (04:09):
And in the end, our mission is.
Speaker 4 (04:10):
To think like a homeowner, act like a pro, and
help like a friend.
Speaker 2 (04:15):
Outstanding. And if we were to give a thirty thousand
foot view to all our listeners that are tuning in
right now to what front Door Inc. Does, what would
you tell them that you do.
Speaker 4 (04:25):
The majority of our work is home warranties and what
that means is you sign up with us for an
annual contract. You pay monthly and you get protection against
twenty nine systems appliances.
Speaker 1 (04:38):
In the home.
Speaker 4 (04:39):
And you know, it's different than insurance, Dunnis. Insurance is
really about what might happen. You might have a car accident,
you might have a damage to your home. With a
warranty home warranty, it's what will happen because things are
inevitably going to break. Could be a kitchen sink, it
(05:00):
could be another appliance, it could be your air conditioning system,
and that's when we come into play and come out
and repair the affected item. Generally, our users we have
about two million of a little over two million that
use us twice a year, so we do about four
million service call what we call service calls per year.
(05:22):
And it's really designed to give people peace of mind.
So you know, we're just calling a plumber, calling an
electrician sometimes can be very costly.
Speaker 1 (05:32):
This is all part of the service that you pay for.
Speaker 2 (05:34):
Well, you know, it really brings up an interesting point.
Speaker 3 (05:36):
And I don't know if you would classify your company, yourself,
and your team as disruptors, but you know what appears
to me as somebody who's been around a long time,
like you have, and homeowners many times that the industry
has kind of been the same way for a long time,
and you bring in this new development where it's kind
of a one stop shop, it's easier, it's virtual, and
I imagine that the feedback you're getting from people, thank goodness,
(05:59):
there's something new that we can invest in our home
to take care of ourselves that it's not as big
as a hassles it usually.
Speaker 2 (06:05):
Am I onto something there?
Speaker 4 (06:07):
Yes, you are on something, Dennis. We last year launched
our app so that you can deal with us generally.
Before you had to call an eight hundred number or
you had to email us. Now you can go right
to your app do a service request or whatever. And
now we added a new feature it's called video Chat
with an Expert on our American Homeshield brand. What that
(06:31):
is is we went out and hired a number of
professionals plumbers, electricians, air conditioning electrician and we even have
a general repair and what they do is just like
what we're doing.
Speaker 1 (06:45):
Now. You get on a zoom call.
Speaker 4 (06:46):
And before you call out a service person or before
you you try to repair it, you can talk to
an expert who can walk you through a repair or
give you the peace.
Speaker 1 (06:57):
Of mind that says, yeah, you're going to.
Speaker 4 (06:59):
Need a contract, but here's what you should tell them
is blah blah blah and say.
Speaker 1 (07:04):
That here are the three things that they should be
looking for.
Speaker 4 (07:07):
So it's really designed as to included in the price
of your home warranty. There's nothing extra, just use it
on your phone, right through the app, and it's really
an innovative way for people to fix it themselves. We
find that about twenty five percent or so people can
fix it over the phone. The rest of them usually
you have to have to call in a contractor and
(07:29):
then they move to our service request and we bring
our contractors out there.
Speaker 3 (07:33):
Well, it's so exciting because you've eliminated dialing just a
dumb one eight hundred number, because everybody's been doing that
for decades now when it's torture, we're all we're all
scared to even just do it and what we're going
to get ourselves into. But what's really cool is not
only is it a great idea, but it's like kind
of telehealth when you're calling a doctor, ye same kind
of you're giving access to people very quickly and I
(07:54):
imagine once again, the feedback is extraordinary that they're going
to have this feature through the app.
Speaker 1 (08:00):
So it's extraordinary in two ways.
Speaker 4 (08:02):
The consumer loves this because gay I can get help
from somebody who knows what they're doing.
Speaker 1 (08:09):
On the other hand, are experts.
Speaker 4 (08:11):
They are off the road, they're not climbing under foundations,
they're not climbing under syncs, and they are by nature
people who want to help. So they love doing this.
They love helping people, they love solving problems. And yet
they're at in the comfort of their home. But there
are employees and they work from their home and they're
(08:31):
there to help you, and we're available fifteen.
Speaker 1 (08:34):
Hours a day.
Speaker 3 (08:35):
Outstanding, Well, Bill, I want I always talk about this
with leaders out there, because you talked about taking over
a CEO several years back, and hopefully the company is
doing much better and you can talk about it a
little bit. But I did want to ask you about
when it comes to moving forward in innovation and technology.
I imagine that you and your team have to really
(08:58):
keep your ear to the ground because tech is moving
so quickly.
Speaker 2 (09:02):
Now that we have AI.
Speaker 3 (09:03):
I don't know that how that'll be a part of
your company but I imagine that we're really living in
extraordinary times when it comes to being a homeowner and
what you and your team offer people.
Speaker 1 (09:13):
Yeah, it is.
Speaker 4 (09:14):
It is part of what our technology team is working on.
We have taken you know, you hear.
Speaker 1 (09:19):
A lot of talk about AI and it's going to
solve all the world's ills.
Speaker 4 (09:23):
We zero in on it from a customer support and
what we call the authorization process, which means the contractor
calls in to us and says, here's what I think
needs to be done.
Speaker 1 (09:36):
You know, approve that so that I can go forward
and do the repair.
Speaker 4 (09:39):
And we're finding about ninety percent success, which isn't high
enough for us. It's got to get to you know
high you know, ninety nine percent reliability. But through AI,
we can we can answer the authorization question very quickly.
Speaker 1 (09:52):
So we're trying to we're trying to take AI and.
Speaker 4 (09:55):
Not just talk about it and not just say oh,
look at our cool technology, but really do it.
Speaker 1 (09:59):
It's all of customer problems.
Speaker 3 (10:01):
I'll say, you're customizing yeah, yeah, which is great. Yeah, Well,
I did want to ask you about challenges. You know,
when I talk to people like you, I know that
staffing is an issue. I also have talked to a
lot of different people in the profit and nonprofit world
about trade schools, and they're not around anymore to trade
plumbers and welders and all the people that might be
(10:22):
working on houses and different kinds of things. With that said,
what kind of challenges present themselves in the industry that
you're working in right now?
Speaker 4 (10:29):
You hit skilled trades people. We actually spend that is
our big corporate responsibility initiative. We sponsor a conference every
year for skilled trades. We're doing scholarship for skilled trades people,
you know, to become apprentices in the various trades. Our
(10:51):
main trades are plumbing, electrical air conditioning or HVAC, and appliances.
We also have a new ride along program we're testing
now in female where a high school student or a
community college student gets to ride along with the contract.
See if you want to become a plumber. See if
you like this day And there's a lot of money
to be made. Dennis, Yeah, these trades people you can be.
(11:13):
You know, if you off think about the cost of college,
et cetera, go to you go to a trade school
and then you start to apprentice under somebody you're going
to be making one hundred thousand dollars or more in
a hurry. And we find we find that's one of
the biggest things is to try to get young people
into this into this area.
Speaker 3 (11:31):
Well, I like that you're doing that because you're kind
of paying it forward, Bill, and I think you're trying
to get the ball started again. It's going to be
difficult because, as I said, I talked to so many
people in different industries where the trade schools is going away.
So I hope there's a resurgence once again, because that's
something that that's your bread and butter if you're working
with all these people.
Speaker 4 (11:49):
Yeah, I mean, and that's that's what we need more
and more, and it is you know, we have very
experienced contractors who have a number of workers for them,
but it we need young people to help do these repairs.
Speaker 3 (12:03):
So let's talk about the future, because I know as
a CEO and chairman, you're always looking forward, whether it's
next year, a couple of years downline, even five years.
I know technology is moving quickly. We talked about that.
But with all that said, is there something else you're
looking forward to or you're bracing yourself in the industry
will provide or not.
Speaker 1 (12:20):
So one of the.
Speaker 4 (12:21):
Things that we're doing is we have a part of
our business called the non warranty side, and what that
is about is it takes a couple of forms. We
are looking to as we come out to see people
will repair. Let's take air conditioning, because that's been our
initial initiative. We'll come out and say, Okay, we can
(12:42):
repair this, but this thing is headed toward end of
life over the next couple of years.
Speaker 1 (12:47):
We'll give you a credit for this repair. And we
have worked with.
Speaker 4 (12:51):
Our vendors, the major vendors for the air conditioning equipment,
and we've got a deal with our contractors. We can
get you a very very very good deal on a
new system, upwards of forty percent savings on the new system.
We have an ability to finance it, so you don't
have to just write that four or five thousand dollars
(13:11):
check right out of your pocket.
Speaker 1 (13:13):
You can finance it.
Speaker 4 (13:14):
But it's a win win because then for us, less
repairs in the future because you've got newer equipment, and
for the homeowner you not only get new equipment, but
these are so much more energy efficient. You're going to
get a reduction in your electric bills too. We're doing
that with other with appliances and hot water heaters. We're
just starting that now, starting that program so that across
(13:38):
the board. We have generally been a repair shop, right,
we do replace items when they're no longer repairable, but
this way we can be proactive with consumers, and consumers
like that that they have an opportunity to take advantage
of the savings we can offer and get new equipment
into their home bill.
Speaker 3 (13:58):
If you can indulge me just for a second, I'd
love to talk to you about leadership. In this series,
we have a lot of future entrepreneurs, future CEOs and
business leaders that tune in and want the latest piece
of advice. And I realize that your journey is very
specific to you and what you do now. But as
you talk about leadership and culture, and you're in a
really interesting position where there's a lot of virtual people
(14:19):
that have to do what you need to do and
you need to get your message to them and you
don't physically see them, so it's a whole different kind
of leadership and what you do with all that said,
what kind of advice would you impart on people here?
Speaker 1 (14:30):
So let me tell let.
Speaker 4 (14:31):
Me take this apart a little bit, because I think
one of the things that I try to convey to
my team and other people, and they asked me, what's
it like being a CEO. One of the things you
have to be is a good manager. So often you're
talking about leadership and you're on the stage or you're
pronouncing or but you need to be a good manager
the people who work for you.
Speaker 1 (14:53):
You need to engage with them.
Speaker 4 (14:54):
You need to make sure you're in weekly contactor or
more than that, you need to make sure that you're
bringing people together so that you manage the process, which
is sometimes lost in the discussion about thought leadership and
personal leadership, and look that all matters personal leadership. Style,
(15:16):
style is important. Don't let anybody tell you it's just
about substance. It's style and substance because so many in
so many efforts, you're the salesperson, you're trying to sell
an idea, you're trying to sell your program or whatever.
So the style matters. But it's style and substance. The
piece that I talk about a lot in terms of
people say, well, what's the biggest thing you do as
(15:36):
a CEO? And I always stay communication, especially in a
virtual environment.
Speaker 1 (15:42):
I need to be in.
Speaker 4 (15:43):
Touch with the employee base on a weekly or more
than that basis. I have a series of forums where
I interact with people at different levels.
Speaker 1 (15:52):
My team does the same. As I said, we come
together very regularly.
Speaker 4 (15:59):
But that ability to communicate because in today's world, the
business press is interested in you, the the analysts and
investors and the employees.
Speaker 1 (16:09):
You know, they want to know what's going on in
the company.
Speaker 4 (16:11):
They want to be kept the prize. So it's a
big communication piece. You got a board of directors, you know,
You've got a lot of things around communication. I often say,
and people chuckle at me. I always tell that the
younger people in the company, I said, well, I don't
really do anything.
Speaker 1 (16:28):
I just talk.
Speaker 4 (16:30):
And I said, because you all come to me and
say we'd love to do this OR'd love to do that.
And I said, oh that sounds good. Yeah, okay, okay,
we'll do that.
Speaker 1 (16:37):
Now.
Speaker 4 (16:37):
I don't think we should do that, but I think
it's I think it's one of those things where if
you're an effective CEO, you're an effective communicator.
Speaker 2 (16:45):
Yeah, that's that's well said.
Speaker 3 (16:46):
I appreciate all that I did want to talk about
philanthropic and charity work. I realized that you and your
team are very busy. But whether it's through front Door, Inc.
Or maybe personally with you and your family, what do
you like to be a part of.
Speaker 4 (16:58):
Yeah, I talked about it from a from a business perspective.
I talked a little bit, you know, a lot about
skilled trades. Our is our thing, and I believe companies
need to have philanthropic efforts through their business purpose. And
our business purpose is to repair and come into people's
homes and with our contractors, So that's why we focus
(17:20):
on skill trades. For me personally, have my wife and
I have lived in northern Michigan for we summred there
and now we're living there about half the year in
a small town called Potoski and Potoski, Michigan up on
Lake Michigan, not the up but the Northern Lower as
we call it, and we are very involved with the
(17:41):
hospital there, the arts center. We sponsored scholarships for kids
who work at at the club we belong to up there,
so we pioneered a scholarship program for them.
Speaker 1 (17:56):
So we spend a lot of our tropic efforts on
you know.
Speaker 4 (18:00):
It's not a poor community, but it's a more rural community,
and really I think trying to help people in that area.
And it's a really nice community. It's right on Lake
Michigan and a lot of.
Speaker 1 (18:11):
Nice people there and that's where we spread a lot
of our efforts.
Speaker 3 (18:14):
Outstanding. Thanks for sharing, Bill, Well, listen, I really enjoyed
the conversation. Before we let you go, I'd like to
get some final thoughts from you and kind of recap
what we talked about. We're going to give the website
and Bill, I know that there is a careers tab
on that website, so we can talk about that as well.
But just some final thoughts from you, sir, the floor
is yours.
Speaker 4 (18:31):
Oh okay, Well, thank you, Dennis. I've really enjoyed our conversation.
I think what we're trying to do here is we
think the home warranty is a very valuable piece of
any homeowner's arsenal. We think the peace of mind it brings,
the savings and costs are something that everybody should sign
up for. I know that people get hit with they
have to have insurance. Home warranty is a discretionary purchase,
(18:54):
but the money you can save and the peace of
mind it can do. And you know there's another little
benefit there. Our contractors are all license You're not just
getting some guy off the off the street. You know,
we have people who are professionals and you can be
safe in your home. And now with video chat with
an expert, you can talk to somebody without even anybody coming.
Speaker 1 (19:14):
To your home. So we think we've got a great
purpose and mission.
Speaker 4 (19:17):
We think we've got a wonderful service we provide, and
I hope that many of your listeners will take.
Speaker 1 (19:22):
Us up on that.
Speaker 4 (19:23):
And your website, Bill, Yeah, it's FrontDoor dot com, So
go there. If you're looking about jobs or anything, just
google front door Jobs.
Speaker 1 (19:34):
But there are two types of jobs. There's people who want.
Speaker 4 (19:36):
To work for a company, and then as I as
I've said repeatedly, you know, stay in your local area
and contact a contractor or plumber or whatever and you
might have a heck of a career in front of you.
Speaker 2 (19:47):
Yes, well said Bill. Listen, thank you so much for
your time.
Speaker 3 (19:50):
I know how busy are We really appreciate you and
featuring you on CEOs as you know, continue success and
thank you so much. Thank you Dennis, our community partner
m and T Bank supports CEOs you should know as
part of their ongoing commitment to building strong communities, and
that starts by backing the businesses within them. As a
bank for communities, m and T believes in dedicating time, talent,
(20:11):
and resources to help local businesses thrive because when businesses succeed,
our communities succeed.
M and T Bank presents CEOs.
Speaker 2 (00:02):
You should know Howard by iHeartMedia.
Speaker 3 (00:06):
Let's meet Bill Cobb. He is the chairman and CEO
for front Door, Inc. A company that helps homeowners with
home maintenance and repair. They offer home warranties, repair services,
and a subscription based app. Before we talk more about
Bill's company and what it can offer their clients, I
first asked him to talk a little bit about himself,
where he's from and his origin story.
Speaker 1 (00:25):
I was born in Brooklyn, New York.
Speaker 4 (00:27):
Moved to the Jersey Shore when I was two, grew
up in Point Pleasant, New Jersey. Twelve years of Catholic school,
and then I broke my mother's heart when I did
not go to Notre Dame, although I subsequently two of
my sons went there.
Speaker 1 (00:42):
So I made good.
Speaker 2 (00:43):
You made up for it. He made up for it.
Speaker 1 (00:46):
Yeah.
Speaker 4 (00:46):
Now, I went to the University of Pennsylvania undergrad. I
went to the Wharton School there and then did my
further in my business education at northwesterns Kellogg School.
Speaker 1 (00:56):
So I got my MBA at Kellogg.
Speaker 2 (00:58):
What do you want to do coming out of school?
Speaker 1 (00:59):
Well, when I went to penn I thought I wanted
to be a lawyer.
Speaker 4 (01:02):
And then when I got to about sophomore year, I
thought to myself, why don't I want to be a lawyer.
Speaker 1 (01:07):
I think I liked this business stuff, so it kind
of became this.
Speaker 4 (01:15):
I started essentially in marketing and always had an eye
toward could I move from a base of marketing to
more general management.
Speaker 1 (01:24):
Then it's worked out pretty well well, Bill.
Speaker 3 (01:27):
I took a look at your resume and it's very incredible.
I mean, you've done some amazing things, a lot of
leadership roles in there. And as I see you the
last six and a half years, I can see why
front Door Inc.
Speaker 2 (01:38):
Was interested in you. But why were you interested in
joining them as chairman and then CEO?
Speaker 1 (01:43):
Yeah, I was.
Speaker 4 (01:43):
I joined the Service Master board, of which the home
warranty division was one of their divisions, and then they
decided to spin it out, and I just thought it
was a more interesting business than the termite business, which
was Terminix, which was a part of the Service Master.
I wanted to go with the go with the new company,
and once we spun out, then I was elected chairman
(02:06):
by my other board members, and so I was chaired
for about three years and we were doing pretty well.
And then our CEO, for personal reasons, decided to move on.
And we had hit some troubled waters in the second
half of twenty one in the beginning of twenty twenty two.
Speaker 1 (02:27):
And he decided to move on.
Speaker 4 (02:29):
And I felt that the situation was such that I
was going to have We're going to have to get
somebody in there relatively quickly.
Speaker 1 (02:36):
So I talked to the board and I kind of
raised my hand and said, all right, I'll do this,
but I don't want to do it.
Speaker 4 (02:41):
On an interim basis, because I knew that changes were
going to have to happen. So I took over in
June of twenty twenty two and have been both chair.
Speaker 1 (02:50):
And CEO since then.
Speaker 4 (02:51):
So and it's worked out great. We've grown the company nicely.
I got a very good management team run the company
as a virtual company.
Speaker 1 (03:03):
We do get together. We call it meeting with purpose.
Speaker 4 (03:05):
So we do get together about once a month with
my executive team and usually a number of others in
the organization so that we can come together in person.
But it's been exciting too in today's world to run
a virtual company, and I think it takes a lot
of communication. It takes a lot of effort because you
(03:27):
can't just walk down the hall. But I think we've
been pretty successful and we've built a very nice culture here.
Speaker 2 (03:32):
Well that's really cool, and I do want to talk
about that in a little bit.
Speaker 3 (03:35):
But it's about pivoting and it's the new normal for
a lot of people out there, including your company. Before
we talk about your programs, your capabilities, what you do
and your memberships and all the cool things with front Door, Inc.
Let's talk about mission statement.
Speaker 2 (03:46):
What is that?
Speaker 1 (03:47):
Okay? Our mission statement is to make life easier for
every home owner. Our values are to help.
Speaker 4 (03:54):
They're all based on home help, own it, move forward,
and explore. So that we want to give our associates
of belief to do not only own it on it,
be accountable, but also think about new ways and explore.
Speaker 1 (04:09):
And in the end, our mission is.
Speaker 4 (04:10):
To think like a homeowner, act like a pro, and
help like a friend.
Speaker 2 (04:15):
Outstanding. And if we were to give a thirty thousand
foot view to all our listeners that are tuning in
right now to what front Door Inc. Does, what would
you tell them that you do.
Speaker 4 (04:25):
The majority of our work is home warranties and what
that means is you sign up with us for an
annual contract. You pay monthly and you get protection against
twenty nine systems appliances.
Speaker 1 (04:38):
In the home.
Speaker 4 (04:39):
And you know, it's different than insurance, Dunnis. Insurance is
really about what might happen. You might have a car accident,
you might have a damage to your home. With a
warranty home warranty, it's what will happen because things are
inevitably going to break. Could be a kitchen sink, it
(05:00):
could be another appliance, it could be your air conditioning system,
and that's when we come into play and come out
and repair the affected item. Generally, our users we have
about two million of a little over two million that
use us twice a year, so we do about four
million service call what we call service calls per year.
(05:22):
And it's really designed to give people peace of mind.
So you know, we're just calling a plumber, calling an
electrician sometimes can be very costly.
Speaker 1 (05:32):
This is all part of the service that you pay for.
Speaker 2 (05:34):
Well, you know, it really brings up an interesting point.
Speaker 3 (05:36):
And I don't know if you would classify your company, yourself,
and your team as disruptors, but you know what appears
to me as somebody who's been around a long time,
like you have, and homeowners many times that the industry
has kind of been the same way for a long time,
and you bring in this new development where it's kind
of a one stop shop, it's easier, it's virtual, and
I imagine that the feedback you're getting from people, thank goodness,
(05:59):
there's something new that we can invest in our home
to take care of ourselves that it's not as big
as a hassles it usually.
Speaker 2 (06:05):
Am I onto something there?
Speaker 4 (06:07):
Yes, you are on something, Dennis. We last year launched
our app so that you can deal with us generally.
Before you had to call an eight hundred number or
you had to email us. Now you can go right
to your app do a service request or whatever. And
now we added a new feature it's called video Chat
with an Expert on our American Homeshield brand. What that
(06:31):
is is we went out and hired a number of
professionals plumbers, electricians, air conditioning electrician and we even have
a general repair and what they do is just like
what we're doing.
Speaker 1 (06:45):
Now. You get on a zoom call.
Speaker 4 (06:46):
And before you call out a service person or before
you you try to repair it, you can talk to
an expert who can walk you through a repair or
give you the peace.
Speaker 1 (06:57):
Of mind that says, yeah, you're going to.
Speaker 4 (06:59):
Need a contract, but here's what you should tell them
is blah blah blah and say.
Speaker 1 (07:04):
That here are the three things that they should be
looking for.
Speaker 4 (07:07):
So it's really designed as to included in the price
of your home warranty. There's nothing extra, just use it
on your phone, right through the app, and it's really
an innovative way for people to fix it themselves. We
find that about twenty five percent or so people can
fix it over the phone. The rest of them usually
you have to have to call in a contractor and
(07:29):
then they move to our service request and we bring
our contractors out there.
Speaker 3 (07:33):
Well, it's so exciting because you've eliminated dialing just a
dumb one eight hundred number, because everybody's been doing that
for decades now when it's torture, we're all we're all
scared to even just do it and what we're going
to get ourselves into. But what's really cool is not
only is it a great idea, but it's like kind
of telehealth when you're calling a doctor, ye same kind
of you're giving access to people very quickly and I
(07:54):
imagine once again, the feedback is extraordinary that they're going
to have this feature through the app.
Speaker 1 (08:00):
So it's extraordinary in two ways.
Speaker 4 (08:02):
The consumer loves this because gay I can get help
from somebody who knows what they're doing.
Speaker 1 (08:09):
On the other hand, are experts.
Speaker 4 (08:11):
They are off the road, they're not climbing under foundations,
they're not climbing under syncs, and they are by nature
people who want to help. So they love doing this.
They love helping people, they love solving problems. And yet
they're at in the comfort of their home. But there
are employees and they work from their home and they're
(08:31):
there to help you, and we're available fifteen.
Speaker 1 (08:34):
Hours a day.
Speaker 3 (08:35):
Outstanding, Well, Bill, I want I always talk about this
with leaders out there, because you talked about taking over
a CEO several years back, and hopefully the company is
doing much better and you can talk about it a
little bit. But I did want to ask you about
when it comes to moving forward in innovation and technology.
I imagine that you and your team have to really
(08:58):
keep your ear to the ground because tech is moving
so quickly.
Speaker 2 (09:02):
Now that we have AI.
Speaker 3 (09:03):
I don't know that how that'll be a part of
your company but I imagine that we're really living in
extraordinary times when it comes to being a homeowner and
what you and your team offer people.
Speaker 1 (09:13):
Yeah, it is.
Speaker 4 (09:14):
It is part of what our technology team is working on.
We have taken you know, you hear.
Speaker 1 (09:19):
A lot of talk about AI and it's going to
solve all the world's ills.
Speaker 4 (09:23):
We zero in on it from a customer support and
what we call the authorization process, which means the contractor
calls in to us and says, here's what I think
needs to be done.
Speaker 1 (09:36):
You know, approve that so that I can go forward
and do the repair.
Speaker 4 (09:39):
And we're finding about ninety percent success, which isn't high
enough for us. It's got to get to you know
high you know, ninety nine percent reliability. But through AI,
we can we can answer the authorization question very quickly.
Speaker 1 (09:52):
So we're trying to we're trying to take AI and.
Speaker 4 (09:55):
Not just talk about it and not just say oh,
look at our cool technology, but really do it.
Speaker 1 (09:59):
It's all of customer problems.
Speaker 3 (10:01):
I'll say, you're customizing yeah, yeah, which is great. Yeah, Well,
I did want to ask you about challenges. You know,
when I talk to people like you, I know that
staffing is an issue. I also have talked to a
lot of different people in the profit and nonprofit world
about trade schools, and they're not around anymore to trade
plumbers and welders and all the people that might be
(10:22):
working on houses and different kinds of things. With that said,
what kind of challenges present themselves in the industry that
you're working in right now?
Speaker 4 (10:29):
You hit skilled trades people. We actually spend that is
our big corporate responsibility initiative. We sponsor a conference every
year for skilled trades. We're doing scholarship for skilled trades people,
you know, to become apprentices in the various trades. Our
(10:51):
main trades are plumbing, electrical air conditioning or HVAC, and appliances.
We also have a new ride along program we're testing
now in female where a high school student or a
community college student gets to ride along with the contract.
See if you want to become a plumber. See if
you like this day And there's a lot of money
to be made. Dennis, Yeah, these trades people you can be.
(11:13):
You know, if you off think about the cost of college,
et cetera, go to you go to a trade school
and then you start to apprentice under somebody you're going
to be making one hundred thousand dollars or more in
a hurry. And we find we find that's one of
the biggest things is to try to get young people
into this into this area.
Speaker 3 (11:31):
Well, I like that you're doing that because you're kind
of paying it forward, Bill, and I think you're trying
to get the ball started again. It's going to be
difficult because, as I said, I talked to so many
people in different industries where the trade schools is going away.
So I hope there's a resurgence once again, because that's
something that that's your bread and butter if you're working
with all these people.
Speaker 4 (11:49):
Yeah, I mean, and that's that's what we need more
and more, and it is you know, we have very
experienced contractors who have a number of workers for them,
but it we need young people to help do these repairs.
Speaker 3 (12:03):
So let's talk about the future, because I know as
a CEO and chairman, you're always looking forward, whether it's
next year, a couple of years downline, even five years.
I know technology is moving quickly. We talked about that.
But with all that said, is there something else you're
looking forward to or you're bracing yourself in the industry
will provide or not.
Speaker 1 (12:20):
So one of the.
Speaker 4 (12:21):
Things that we're doing is we have a part of
our business called the non warranty side, and what that
is about is it takes a couple of forms. We
are looking to as we come out to see people
will repair. Let's take air conditioning, because that's been our
initial initiative. We'll come out and say, Okay, we can
(12:42):
repair this, but this thing is headed toward end of
life over the next couple of years.
Speaker 1 (12:47):
We'll give you a credit for this repair. And we
have worked with.
Speaker 4 (12:51):
Our vendors, the major vendors for the air conditioning equipment,
and we've got a deal with our contractors. We can
get you a very very very good deal on a
new system, upwards of forty percent savings on the new system.
We have an ability to finance it, so you don't
have to just write that four or five thousand dollars
(13:11):
check right out of your pocket.
Speaker 1 (13:13):
You can finance it.
Speaker 4 (13:14):
But it's a win win because then for us, less
repairs in the future because you've got newer equipment, and
for the homeowner you not only get new equipment, but
these are so much more energy efficient. You're going to
get a reduction in your electric bills too. We're doing
that with other with appliances and hot water heaters. We're
just starting that now, starting that program so that across
(13:38):
the board. We have generally been a repair shop, right,
we do replace items when they're no longer repairable, but
this way we can be proactive with consumers, and consumers
like that that they have an opportunity to take advantage
of the savings we can offer and get new equipment
into their home bill.
Speaker 3 (13:58):
If you can indulge me just for a second, I'd
love to talk to you about leadership. In this series,
we have a lot of future entrepreneurs, future CEOs and
business leaders that tune in and want the latest piece
of advice. And I realize that your journey is very
specific to you and what you do now. But as
you talk about leadership and culture, and you're in a
really interesting position where there's a lot of virtual people
(14:19):
that have to do what you need to do and
you need to get your message to them and you
don't physically see them, so it's a whole different kind
of leadership and what you do with all that said,
what kind of advice would you impart on people here?
Speaker 1 (14:30):
So let me tell let.
Speaker 4 (14:31):
Me take this apart a little bit, because I think
one of the things that I try to convey to
my team and other people, and they asked me, what's
it like being a CEO. One of the things you
have to be is a good manager. So often you're
talking about leadership and you're on the stage or you're
pronouncing or but you need to be a good manager
the people who work for you.
Speaker 1 (14:53):
You need to engage with them.
Speaker 4 (14:54):
You need to make sure you're in weekly contactor or
more than that, you need to make sure that you're
bringing people together so that you manage the process, which
is sometimes lost in the discussion about thought leadership and
personal leadership, and look that all matters personal leadership. Style,
(15:16):
style is important. Don't let anybody tell you it's just
about substance. It's style and substance because so many in
so many efforts, you're the salesperson, you're trying to sell
an idea, you're trying to sell your program or whatever.
So the style matters. But it's style and substance. The
piece that I talk about a lot in terms of
people say, well, what's the biggest thing you do as
(15:36):
a CEO? And I always stay communication, especially in a
virtual environment.
Speaker 1 (15:42):
I need to be in.
Speaker 4 (15:43):
Touch with the employee base on a weekly or more
than that basis. I have a series of forums where
I interact with people at different levels.
Speaker 1 (15:52):
My team does the same. As I said, we come
together very regularly.
Speaker 4 (15:59):
But that ability to communicate because in today's world, the
business press is interested in you, the the analysts and
investors and the employees.
Speaker 1 (16:09):
You know, they want to know what's going on in
the company.
Speaker 4 (16:11):
They want to be kept the prize. So it's a
big communication piece. You got a board of directors, you know,
You've got a lot of things around communication. I often say,
and people chuckle at me. I always tell that the
younger people in the company, I said, well, I don't
really do anything.
Speaker 1 (16:28):
I just talk.
Speaker 4 (16:30):
And I said, because you all come to me and
say we'd love to do this OR'd love to do that.
And I said, oh that sounds good. Yeah, okay, okay,
we'll do that.
Speaker 1 (16:37):
Now.
Speaker 4 (16:37):
I don't think we should do that, but I think
it's I think it's one of those things where if
you're an effective CEO, you're an effective communicator.
Speaker 2 (16:45):
Yeah, that's that's well said.
Speaker 3 (16:46):
I appreciate all that I did want to talk about
philanthropic and charity work. I realized that you and your
team are very busy. But whether it's through front Door, Inc.
Or maybe personally with you and your family, what do
you like to be a part of.
Speaker 4 (16:58):
Yeah, I talked about it from a from a business perspective.
I talked a little bit, you know, a lot about
skilled trades. Our is our thing, and I believe companies
need to have philanthropic efforts through their business purpose. And
our business purpose is to repair and come into people's
homes and with our contractors, So that's why we focus
(17:20):
on skill trades. For me personally, have my wife and
I have lived in northern Michigan for we summred there
and now we're living there about half the year in
a small town called Potoski and Potoski, Michigan up on
Lake Michigan, not the up but the Northern Lower as
we call it, and we are very involved with the
(17:41):
hospital there, the arts center. We sponsored scholarships for kids
who work at at the club we belong to up there,
so we pioneered a scholarship program for them.
Speaker 1 (17:56):
So we spend a lot of our tropic efforts on
you know.
Speaker 4 (18:00):
It's not a poor community, but it's a more rural community,
and really I think trying to help people in that area.
And it's a really nice community. It's right on Lake
Michigan and a lot of.
Speaker 1 (18:11):
Nice people there and that's where we spread a lot
of our efforts.
Speaker 3 (18:14):
Outstanding. Thanks for sharing, Bill, Well, listen, I really enjoyed
the conversation. Before we let you go, I'd like to
get some final thoughts from you and kind of recap
what we talked about. We're going to give the website
and Bill, I know that there is a careers tab
on that website, so we can talk about that as well.
But just some final thoughts from you, sir, the floor
is yours.
Speaker 4 (18:31):
Oh okay, Well, thank you, Dennis. I've really enjoyed our conversation.
I think what we're trying to do here is we
think the home warranty is a very valuable piece of
any homeowner's arsenal. We think the peace of mind it brings,
the savings and costs are something that everybody should sign
up for. I know that people get hit with they
have to have insurance. Home warranty is a discretionary purchase,
(18:54):
but the money you can save and the peace of
mind it can do. And you know there's another little
benefit there. Our contractors are all license You're not just
getting some guy off the off the street. You know,
we have people who are professionals and you can be
safe in your home. And now with video chat with
an expert, you can talk to somebody without even anybody coming.
Speaker 1 (19:14):
To your home. So we think we've got a great
purpose and mission.
Speaker 4 (19:17):
We think we've got a wonderful service we provide, and
I hope that many of your listeners will take.
Speaker 1 (19:22):
Us up on that.
Speaker 4 (19:23):
And your website, Bill, Yeah, it's FrontDoor dot com, So
go there. If you're looking about jobs or anything, just
google front door Jobs.
Speaker 1 (19:34):
But there are two types of jobs. There's people who want.
Speaker 4 (19:36):
To work for a company, and then as I as
I've said repeatedly, you know, stay in your local area
and contact a contractor or plumber or whatever and you
might have a heck of a career in front of you.
Speaker 2 (19:47):
Yes, well said Bill. Listen, thank you so much for
your time.
Speaker 3 (19:50):
I know how busy are We really appreciate you and
featuring you on CEOs as you know, continue success and
thank you so much. Thank you Dennis, our community partner
m and T Bank supports CEOs you should know as
part of their ongoing commitment to building strong communities, and
that starts by backing the businesses within them. As a
bank for communities, m and T believes in dedicating time, talent,
(20:11):
and resources to help local businesses thrive because when businesses succeed,
our communities succeed.
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