Match Group, the parent company of popular dating platforms including Tinder, has announced the appointment of Steven Bailey as its new Chief Financial Officer (CFO), effective March 31, 2025. This transition comes as the company emphasizes its commitment to long-term strategic growth and cost discipline.
Bailey, who joined Match in 2012, currently serves as the senior vice president of financial planning and business operations. He will succeed Gary Swidler, who has held the CFO position for nearly a decade and will continue to serve as the company’s president.
“This move underscores our commitment to driving long-term strategic growth and strong cost discipline,” said the company in a statement.
Match Group has recently faced challenges in its business operations, with the latest forecast indicating that third-quarter revenue will fall below Wall Street expectations due to a slowdown in user growth as individuals reduce spending on dating apps. The company reported that paying Tinder users declined by 8% to 9.6 million in the second quarter, compared to a 9% fall in the previous quarter.
Additionally, Match has experienced delays in launching new features for key apps, including Tinder, and is attempting to revive its business by introducing new subscriptions and app updates. Earlier this year, the company appointed Faye Iosotaluno as the new CEO of Tinder, a decision made shortly after Elliott Investment Management acquired a roughly $1 billion stake in Match Group.
The company has been under significant pressure from activist investors such as Starboard Value, Elliott, and Anson Funds Management, who have been advocating for changes in light of a post-pandemic growth slowdown. In July, Starboard acquired a 6.6% stake in Match and encouraged the company to consider a sale if it is unable to revitalize its business.