Match Group names Jim Lanzone as Tinder CEO

FILE PHOTO: Jim Lanzone, president and CEO of CBS Interactive, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 10, 2019. REUTERS/Brendan McDermid

(Reuters) - Match Group Inc MTCH.O on Monday named Jim Lanzone, former boss of CBS Interactive, as the new chief executive officer of its dating app Tinder.

Lanzone, who most recently served as an executive-in-residence at Benchmark Capital, will succeed Elie Seidman, who is stepping down.

Lanzone’s appointment is effective Aug. 3 and he will report to Match Group CEO, Shar Dubey.

Match Group is expected to report its second-quarter results next week.

In May, the company’s quarterly revenue fell short of Wall Street estimates after it was hit by slowing growth at Tinder, as fewer people signed up and paid for its premium features amid the COVID-19 pandemic.

Tinder, which competes with rival Bumble, added about 100,000 average subscribers in the first quarter, its lowest in at least a year, taking its total average subscriber count to 6 million.

Reporting by Munsif Vengattil in Bengaluru; Editing by Shailesh Kuber