Invitation Homes Inc. President and CEO Fred Tuomi will depart from the Dallas-based company, effective immediately.

The board of the single-family home owner and operator appointed co-founder and interim President Dallas Tanner as president, CEO and a member of the board of directors, also with immediate effect.

Tanner, who has been serving as interim president of the company since Tuomi took a leave of absence in August 2018, was previously Invitation Homes' executive vice president and chief investment officer.