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IAC Announces Management Changes At Its Match Segment

Stocks in this article: IACI

NEW YORK, Oct. 23, 2012 /PRNewswire/ -- Today IAC (Nasdaq: IACI) announced that Sam Yagan, co-founder and CEO of OkCupid, has been named CEO of Match, Inc., making him responsible for IAC's Match segment, which comprises all of IAC's online dating and related operations, domestically and internationally.  Mandy Ginsberg, President of Match.com, has been named CEO of Match.com, with responsibility for the segment's "Core" businesses: Match.com U.S., Chemistry.com and People Media.  Josh Meyers, CEO of People Media, will leave the segment to focus on new initiatives at IAC, with the majority of his time initially spent on DailyBurn, IAC's subscription-based streaming fitness business.  

"The Match segment has grown from what was essentially a domestic business with two brands in 2009 into the global leader it is today with 37 brands in more than 25 countries," said Greg Blatt, CEO of IAC.  "This greater scale and complexity requires a single leader responsible for the growth and operations of the overall segment, as well as greater coordination across our brands.  This streamlined operating structure, with our Core businesses consolidated under Mandy Ginsberg and the entire business, including Core, consolidated under Sam Yagan, takes full advantage of the assets and leadership talent we've assembled."

IAC's recent success in cross-border and cross-brand collaboration in connection with its Meetic acquisition demonstrates the power of a portfolio approach, and these changes to the operating structure will better maximize this potential. 

"Sam's extensive category experience and sharp intellect make him the perfect person to oversee Match's overall growth," said Blatt. "Mandy has a keen brand sense and great operational acumen demonstrated by Match.com's performance over the last few years.  I'm confident she'll continue to drive healthy growth in our Core businesses going forward."

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