President of mobile gaming company named new CEO of Match Group » Dallas Innovates

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After serving in several C-level positions at the company over the past decade and a half, the CEO of Match Group is stepping down.

The Dallas-based dating app giant’s board of directors has announced that Shar Dubey will step down from her role at the end of the month, but will remain with the company as a member of the board of directors and advisor.

“As a director and advisor, I will have the flexibility to stay close to the aspects of the business that I love – product and strategy,” Dubey said in a statement.

The president of the mobile games company will take the lead

Stepping into the role of Dubey is Bernard Kim, who is currently chairman of mobile game maker Zynga, where he is credited with growing Zynga’s market capitalization since 2016, leading to the pending $12.7 billion acquisition. dollars from Zynga by Take-Two Interactive. Kim also served as Senior Vice President of Mobile Publishing at Electronic Arts.

“Bernard has operated a business very similar to ours: a portfolio of brands, in global markets, at various stages of growth,” Match’s board wrote in its latest financial report. “He has managed to achieve tremendous results while focusing on their mission to connect people through fun games. At Match Group, he will leverage our mission to connect people through technology to find dating you, love and relationships.

Dubey’s legacy at Match

Shar Dubey steps down as CEO of Match Group [Photo: Match Group]

The change of management is scheduled for May 31. Dubey said the move will give her more time to focus on what she calls the “giving back” chapter of her life. Dubey joined Match in 2016, serving in a variety of leadership roles including COO of the Match Tinder brand and Chairman of Match Group, before taking over from Mandy Ginsberg as CEO in early 2020.

As CEO, Dubey oversaw a number of big moves for Match, which owns brands like Hinge, PlentyOfFish and OkCupid, including the company’s separation from former parent company IAC in July 2020 and its acquisition of nearly of $1.73 billion from the South Korean social. networking company Hyperconnect last February.

Match sees revenue increase in the first quarter

The management change comes as Match Group, listed on Nasdaq under the symbol MTCH, released its first quarter earnings report. It said its revenue grew 20% from the year-ago quarter to $799 million, with nearly 100 million monthly active users of its brand globally. The company’s board also announced its intention to repurchase 12.5 million outstanding shares of Match Group. Dubey’s announcement saw Match’s share price drop just over 6% to $74.23 per share after hours trading around 5:30 p.m. CST.

“In the current environment, we continue to control what we can, and it’s running on our product roadmaps,” Match wrote in the report. “As we look to the future, it is with the recognition that dating apps must provide different experiences for different people and continue to evolve with online behaviors in general. We plan to continue creating new applications and to evolve our current portfolio, as we have done with live video, video chat and audio chat.

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