Parent company Match Group has announced a shake-up among the dating platform’s management.
03 August 2022
Tinder chief executive Renate Nyborg has left the dating app less than a year after taking over as boss of the platform.
Her departure was announced as part of a management reshuffle at the firm, its parent company, Match Group, said.
The dating app’s plans to get into new technology, including virtual currency and other virtual goods, are also being reviewed as part of the shake-up, Match Group chief executive Bernard Kim said.
Mr Kim also confirmed he would take up Ms Nyborg’s role while Tinder looks for a new permanent chief executive.
Ms Nyborg had been appointed Tinder’s first female chief executive in September last year.
“Today we’re announcing the departure of Tinder CEO Renate Nyborg, and I have made some changes to the management team and structure that I am confident will help deliver Tinder’s full potential,” he said in a letter to shareholders.
“While we search for a permanent Tinder CEO, I will oversee a newly formed team of executives who will manage day-to-day operations and will ensure the Tinder organisation is well coordinated, ships great new features at increased velocity and delivers on Tinder’s promise.
“I’ll be fully embedded within the team at our main Tinder office in LA to oversee business progress until the search is complete.”
In a post to her LinkedIn page, Ms Nyborg said she had “loved every moment of the last 2 years, working with an I.N.C.R.E.D.I.B.L.E. team on the magic of human connection”.
Her departure also comes as Match reported quarterly financial results that were below analyst expectations.
The company posted revenue for its second quarter of 795 million dollars (£652 million), up 12% on the same period last year but below Wall Street estimates of just over 804 million dollars (£659 million).
Mr Kim said the ongoing impact of the pandemic had influenced the results.
“Although the overall market opportunity remains substantial, the current environment is presenting some unique trends related to consumer behaviour,” he said.
“While people have generally moved past lockdowns and entered a more normal way of life, their willingness to try online dating products for the first time hasn’t yet returned to pre-pandemic levels. We are still seeing higher engagement from pre-existing users compared to before the pandemic.
“In order to see new user growth return to pre-pandemic levels, I will be challenging the teams to make bigger strides in product innovation to drive more first time adoption of our products.”
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