TrueCar (TRUE - Get Report) is close to naming a new CEO, according to people close to the company.

These people said the leading candidate for the job will likely be named by the end of the year, declining to name that person. Mike Guthrie, chief financial officer, has been acting chief operating officer since August, when Scott Painter, a co-founder and CEO, resigned at the end of 2014.

Meanwhile, the digital car buying service said another senior executive is leaving "to do new things." Larry Dominique, a former Nissan (NSANY) executive who is currently TrueCar's executive vice president, will leave by year's end. John Krafcik, president, left shortly after Painter to lead Alphabet's  (GOOG - Get Report) autonomous Google car project.

In the past month TrueCar shares have risen 13% compared with the Nasdaq, up 2%. The company's third-quarter financial results were better than expected, an indication that operations remained solid despite tumult in its corporate suite.

The past year has been a tumultuous one for the company, its stock collapsing after a successful initial public offering that raised $70 million in May 2014. TrueCar, with its dealer partners, acts as a go-between for consumers gathering information about automobiles via the Internet and collects a commission when a sale is made. 

The company posted third-quarter financial results that included 28% higher revenue and a narrowed loss. The number of cars purchased through dealer partners of TrueCar numbered 208,034, up 21% from a year earlier and the most in the company's history.


This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.