Will IAC Stock Be Affected by New CFO?

NEW YORK (TheStreet) -- IAC/InterActiveCorp  (IAC) announced Thursday that the company appointed Glenn Schiffman to serve as the company's new CFO.

The media company, which owns Internet brands such as Vimeo and HomeAdvisor, announced that Schiffman will begin serving in the role immediately. Schiffman previously worked as a senior managing director at Guggenheim Securities. 

"I've known Glenn for over 10 years and he has exemplified an outstanding record of integrity, creativity, and operational leadership - I was thrilled when he agreed to join us," IAC CEO Joey Levin said in a statement. "Glenn's deep wealth of experience and steady hand in advising some of the world's largest media companies will be a tremendous asset to IAC."

Former CFO Jeff Kip will oversee HomeAdvisor's expansion abroad, the company said in a statement. 

IAC stock is down 0.38% to $46.19 in pre-market trading on Thursday. 

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rates this stock as a "hold" with a ratings score of C. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

You can view the full analysis from the report here: IAC

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