Match Group Names Mandy Ginsberg to Succeed Greg Blatt as CEO
- Match Group Americas CEO Mandy Ginsberg to succeed Greg Blatt as Chief Executive Officer beginning January 1, 2018
- IAC CEO Joey Levin named as Chairman of Match Group Board of Directors; Blatt to Remain on Board
01 Aug, 2017, 18:21 ET
DALLAS, Aug. 1, 2017 /PRNewswire/ -- Today Match Group, Inc. (NASDAQ: MTCH) announced the appointment of Mandy Ginsberg, CEO of Match Group Americas, to the role of Chief Executive Officer of Match Group, effective January 1, 2018. Ms. Ginsberg will succeed Greg Blatt, who will remain in his role as Chairman and Chief Executive Officer of Match Group through the end of the year, and will stay on as CEO of Tinder until a replacement is named. IAC CEO Joey Levin will become the Chairman of the Match Group Board of Directors. Mr. Blatt will serve as Vice Chairman, a non-executive position that will encompass his continuing service on the Match Group and Tinder Boards, and an ongoing advisory relationship to the Match Group senior executive team.
IAC Chairman and Senior Executive Barry Diller said, "Greg Blatt has been a senior executive in the IAC group of companies for 14 years, starting as General Counsel and serving as a key player throughout. Consistent with our policy of promoting from within, as exemplified in today's announcements, we placed Greg with Match.com as its leader. At the time, Match was undergoing a difficult patch, and within months Greg got it on the right course. Match grew fast and furious under his leadership, smartly expanding its portfolio and growing its profits and subscriber base approximately 5x over the last eight years. Along the way, he served three years as CEO of IAC, during which time IAC experienced strong growth, before returning to Match Group to commence its life as its own public company. Last fall he came to me and said that he'd given his all to the Company, and that he had begun to think that it would soon be time to make a change, as there were other areas for his future that interested him. After months of discussion and planning, now is the right time to begin to implement that change. I will greatly miss his boisterous enthusiasm, his smarts and integrity, but I'm confident he will go on to achieve great things wherever his interests lead him."
Mr. Blatt said, "I'm incredibly proud of what we've accomplished over the years: assembling an amazing team, creating a ton of financial value, and helping bring millions of people together to have fantastic experiences, meaningful relationships and loving families. I'm handing over the reins at a time when the company is in a strong position, with Tinder having transitioned from a unique global phenomenon into a fully fleshed out company rocketing forward on firm footing, and our other businesses under excellent leadership with defined strategies to drive continued value creation. Our business outlook is extremely bright and our foundations extremely strong. Match Group will be in the best of hands with Mandy Ginsberg, who was here on the day I arrived, and without whom many of the company's greatest successes would not have been possible. I'm confident her understanding of our business and customers and knack for brand development and team building – along with the amazing group of executives and employees working at the company – will together lead Match Group to ever greater heights. It's been a long, great run with IAC and Match, and I especially want to thank Barry for all the incredible opportunities he's given me."
Ms. Ginsberg said, "I am truly honored to take the reins and serve as Match Group's next CEO. Greg has been a phenomenal leader to both the team and me personally, and I speak on behalf of the entire leadership team when I say we will miss the passion, intellect and integrity he brings to every discussion. As we look to the future, we have so much opportunity ahead. Our apps have fostered millions of connections and relationships around the world, and we believe through continued product innovation we will create even more. I look forward to continuing to build on our global footprint, drive growth and create value for shareholders."
Mandy will be joined by the long standing executive team at Match, including Sharmistha Dubey, Chief Operating Officer of Tinder, who will become President of Match Group effective January 1, 2018. The executive leadership team also includes Amarnath Thombre, Chief Strategy Officer; Alex Lubot, CEO of Match Group EMEA and Asia-Pacific; Gary Swidler, Chief Financial Officer; Jared Sine, General Counsel; Lisa Nelson, Chief Human Resources Officer; Ayesha Gilarde, Chief Marketing Officer and Peter Foster, GM, Match Group Media.
Joey Levin, CEO of IAC, said, "Under Greg's watch, Match has become the undisputed global leader in one of the largest consumer verticals on the web, creating a strong and sustaining public company, and enormous value for Match shareholders. And yet we're still only beginning to see the potential of how technology can help bring people together."
Levin continued, "I've known Mandy a long time; she is a thoughtful, driven executive and a world class recruiter of talent, with an 11-year track record of driving growth for this business. With a great collection of assets and a wide open market, I know Mandy and the entire team at Match have more than enough ambition and vision to continue to redefine how millions of people all over the world start relationships."
About Mandy Ginsberg
Mandy Ginsberg currently serves as CEO of Match Group Americas, where she oversees the Match U.S. brand, Match Affinity Brands, OKCupid, PlentyofFish, ParPerfeito and overall North and South American expansion. Previously Ms. Ginsberg served as the CEO of The Princeton Review, where she expanded its services to include online services, such as tutoring and college counseling, for a new generation of students. Ms. Ginsberg's customer service acumen developed during her tenure as Vice President of Consumer Technology for Edelman Public Relations Worldwide, then subsequently in her role as Vice President of Worldwide Marketing at i2 Technologies. She holds an undergraduate degree from the University of California at Berkeley, an MBA from The Wharton School of the University of Pennsylvania and is a member of the Board of Directors at J.C. Penney Company.
Second Quarter Results
In a separate release today, Match Group also announced its second quarter 2017 financial results. Revenue was $310 million, a 12% increase from the prior year quarter, driven by 15% growth in Average PMC to 6.1 million. Average PMC at Tinder exceeded 2 million for the first time, an 86% increase over the prior year quarter.
Earnings Conference Call
The Company will audiocast a conference call to answer questions regarding its second quarter financial results on Wednesday, August 2, 2017 at 8:30 a.m. Eastern Time. This call will include the disclosure of certain information, including forward-looking information, which may be material to an investor's understanding of Match Group's business. The live audiocast and investor presentation reviewing the results are both available on http://ir.mtch.com.
About Match Group, Inc.
Match Group is the world's leading provider of dating products. We operate a portfolio of over 45 brands, including Match, OkCupid, Tinder, Meetic, Twoo, OurTime, BlackPeopleMeet and FriendScout24, each designed to increase our users' likelihood of finding a romantic connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. We currently offer our dating products in 42 languages across more than 190 countries.
Caution Concerning Forward-Looking Statements
This press release may contain "forward-looking statements"—that is, statements related to future events that are, by their nature, subject to uncertainties, risks and changes in circumstances that are difficult to predict. These forward-looking statements include, among others, statements relating to Match Group's future financial performance, business prospects and strategy, anticipated trends and other similar matters. Actual results could differ materially from those contained in these forward-looking statements. For details on the risks and uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see Match Group's filings with the Securities and Exchange Commission. Other unknown or unpredictable factors that could also adversely affect Match Group's business, financial condition and results of operations may arise from time to time. In light of these risks and uncertainties, these forward-looking statements may not prove to be accurate. Accordingly, you should not place undue reliance on these statements, which only reflect the views of Match Group management as of the date of this press release. Match Group does not undertake to update these forward-looking statements.
SOURCE Match Group
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