- Push-out Score suggests push-out forces
- After two years on the job
- Accolades, praise and words of regret for Blatt
- Mandy Ginsberg taking over
- Blatt will remain as Vice Chairman at Match
- Blatt spoke at length and said 198 words
(exechange) — Dallas, Texas, August 02, 2017 — Greg Blatt, chief executive of Match, leaves. His departure is made public at an early stage. As announced by Match Group, Inc. in a news release published on Tuesday, August 01, 2017 and in a regulatory filing published on Wednesday, August 02, 2017, Grégory R. (Greg) Blatt leaves the post as Chief Executive Officer at the owner of online dating apps in a surprising move after two years on the job, effective December 31, 2017.
No company wants a CEO to flame out in the first years.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, only 14 percent of the CEOs who departed over the past twelve months left within two years, and 23 percent left within three years. Overall, the average tenure of those who left was 8.6 years, according to data compiled by exechange.
Greg Blatt will remain in his role as Chairman and Chief Executive Officer of Match Group through the end of the year and will stay on as CEO of Tinder until a replacement is named.
Blatt’s duties are taken over by Mandy Ginsberg, currently CEO Americas at Match Group, Inc.
Blatt’s move is part of a management shake-up also involving the position of President.
“Other areas for his future that interested him”
The management change is explained as follows. IAC Chairman and Senior Executive Barry Diller said: “Last fall he came to me and said that he’d given his all to the Company, and that he had begun to think that it would soon be time to make a change, as there were other areas for his future that interested him. After months of discussion and planning, now is the right time to begin to implement that change.”
The phrase “other areas for his future that interested him” opens the door to speculation.
Blatt will remain as Vice Chairman at Match
“Blatt will serve as Vice Chairman, a non-executive position that will encompass his continuing service on the Match Group and Tinder Boards, and an ongoing advisory relationship to the Match Group senior executive team,” Match said.
Share price rise since February 2016
The change follows a rise in the share price of Match Group, Inc. since February 2016.
On the job as CEO since 2016
Gregory R. Blatt has been a director of Match Group since October 2015, Chairman of Match Group since December 2013 and Chief Executive Officer of Match Group since January 2016.
Prior to his current roles, Blatt served as Chief Executive Officer of IAC/InterActiveCorp (“IAC”) from December 2010 through December 2013, as head of its former Match segment during 2009 and 2010 and as its General Counsel from 2003 through 2008.
Prior to joining IAC, Blatt was General Counsel of Martha Stewart Living Omnimedia and an associate at the law firms of Grubman Indursky & Shire and Wachtell, Lipton, Rosen & Katz.
He has a B.A. from Colgate University and a J.D. from Columbia Law School.
Greg Blatt will remain in his role as Chairman and Chief Executive Officer of Match Group through the end of the year, and will stay on as CEO of Tinder until a replacement is named.
IAC CEO Joey Levin will become the Chairman of the Match Group Board of Directors.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Greg Blatt’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 32.2017 ($).