After just five months following his ousting, Tinder’s co-founder Sean Rad has returned as the company’s CEO after it was decided his replacement, Chris Payne, had failed to “ignite” the business under his leadership.
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At the same time, the Chairman of The Match Group, Greg Blatt, will now assume the position of Executive Chairman of Tinder.
Tinder’s board members have evidently been doing some soul-searching lately, and announced today (Aug. 13) that current CEO Christopher Payne is stepping down.
The app’s founder, Sean Rad, will replace Payne, re-assuming his role as CEO.
Rad’s return was surprising, given that, when he stepped down in March, it was widely seen as a move by IAC to bring in someone the company had more faith in to navigate Tinder.
“It’s only been a few months, but everyone came to the realisation, the board and Christopher, and all agreed it wouldn’t work out long-term”, Cohler said.
“We mutually determined that this wasn’t going to be optimal and thought that a quick transition served everybody best”, Payne said in a statement from the company confirming his departure. Rad will be working closely with Blatt towards this endeavor.
Rad had served as CEO of Tinder until last November when he was stripped of the title.
Tinder has not been far from the headlines this week.
Tinder, created in 2012, uses geolocation to propose romantic matches for users to quickly scroll through.
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For now, the new changes at the executive level go in effect immediately, aiming to fuel the company’s growth. With its global reach, people in all 196 countries around the world are swiping right to connect with others, making it a top 10 lifestyle app in more than 70 countries.
