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5h ago

Tinder CEO Faye Iosotaluno to Exit as Match Group's Leadership Reshuffle Continues

Spencer Rascoff, Match Group CEO, will take interim charge of Tinder following Iosotaluno's departure in July, as the company navigates activist investor pressures and strategic cost-cutting.

Tinder Chief Operating Officer Faye Iosotaluno speaks during the Reuters-hosted MOMENTUM event in Austin, Texas, U.S., October 11, 2022. REUTERS/Spencer Selvidge/File Photo
The dating app Tinder is shown on a mobile phone in this picture illustration taken September 1, 2020. Picture taken September 1, 2020. REUTERS/Akhtar Soomro/Illustration/File Photo
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Overview

  • Faye Iosotaluno announced her resignation as Tinder CEO, effective July, after less than two years in the role and nearly eight years at Match Group.
  • Match Group CEO Spencer Rascoff will temporarily lead Tinder, with no successor named yet, as part of broader leadership changes within the company.
  • The announcement follows Match Group's recent 13% workforce reduction, primarily affecting Tinder, aimed at improving margins under activist investor scrutiny.
  • Activist investors, including Elliott Management, Starboard Value, and Anson Funds, have reportedly built stakes in Match Group, pushing for governance and financial reforms.
  • Match Group's stock price rose 0.8% following the news, reflecting cautious investor optimism about the company's ongoing turnaround efforts.