Spark Networks Appoints Chelsea Grayson and Eric Eichmann to Board of Directors

Rhea-AI Summary

Spark Networks SE (NYSE: LOV) announced the appointment of Chelsea Grayson and Eric Eichmann to its Board of Directors, effective July 29, 2020. David Khalil, Chairman of the Board, emphasized their expertise in advancing the company's growth strategies. Grayson, a former CEO of True Religion, brings experience in brand development and governance, while Eichmann, the current CEO, has a strong background in technology and leadership from previous roles at Criteo and Living Social. Both leaders are expected to enhance shareholder value through strategic decisions in the dating industry.

Positive

• Chelsea Grayson and Eric Eichmann's appointments are intended to bolster growth initiatives.
• Grayson has a strong background in brand development and corporate governance.
• Eichmann possesses significant industry insight and leadership experience.

Negative

• None.

BERLIN, Aug. 3, 2020 /PRNewswire/ -- Spark Networks SE (NYSE: LOV), the global leader in premium and community-based dating, today announced the appointment of Chelsea Grayson and Eric Eichmann, Chief Executive Officer of Spark Networks, to the Company's Board of Directors, effective July 29, 2020.

"We believe the strong additions of Chelsea and Eric to the Board will further advance Spark Network's growth initiatives and development strategy," said David Khalil, Chairman of the Board of Directors for Spark Networks. "Chelsea is an experienced public company executive with a proven track record of developing strong consumer-facing brands and creating long-term value. Eric is a visionary leader, helping to reposition the Company, and whose insight, expertise and strong knowledge of our sector make him a natural addition to our Board of Directors."  

Chelsea Grayson is the former Chief Executive Officer of True Religion and American Apparel. She currently serves on the Board of Vireo Health, where she chairs the Nominating & Corporate Governance Committee, and she is an Executive-in-Residence with Wunderkind (formerly BounceX).  Ms. Grayson has also served on the Boards of Sugarfina and Delta Dental.  Ms. Grayson received a JD from Loyola Law School and a BA from the University of California, Los Angeles.

Ms. Grayson said, "I am truly honored to join the Board of Directors at Spark and work alongside such a diverse group of innovative thinkers. Now is an exciting time for the Company as our niche brands have sparked millions of connections. I believe that our commitment to new product development and expansion will allow us to have an even greater impact on future. I look forward to continuing to build on our successes while capturing additional market share and enhancing overall shareholder value."

Eric Eichmann joined Spark Networks in November 2019 as Chief Executive Officer. From April 2013 until 2018, Mr. Eichmann was member of the management of Criteo S.A., where he held the position as CEO since 2015. Prior to joining Criteo, Eric was COO at Living Social and at Rosetta Stone, SVP of Advertising Operations and Technology at AOL, and a senior engagement manager at McKinsey & Co. Eric holds a master's degree in computer engineering from EPFL (École Polytechnique Fédérale de Lausanne), and an MBA from the Kellogg School of Management, Northwestern University.

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, statements involving known and unknown risks, uncertainties, and other factors that may cause Spark Networks' performance or achievements to be materially different from those of any expected future results, performance, or achievements.

Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Written words, such as "believes," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," and variations thereof, or the use of future tense, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially, including, but not limited to, those discussed under the heading "Risk Factors" in Spark Networks' Annual Report on Form 20-F and in other sections of Spark Networks' filings with the Securities and Exchange Commission ("SEC"), and in Spark Networks' other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement except as required by law.

About Spark Networks SE:
Spark Networks SE is America's second largest dating company, listed on the New York Stock Exchange American under the ticker symbol "LOV," with headquarters in Berlin, Germany, and offices in New York, Utah and California. The Company's widening portfolio of premium and freemium dating apps include Zoosk, EliteSingles, Jdate, Christian Mingle, eDarling, JSwipe and SilverSingles, among others. Spark Networks SE in its current form is the result of the merger between Affinitas GmbH and Spark Networks, Inc. in 2017 and the addition of Zoosk, Inc. in 2019. Spark Networks has approximately one million monthly paying subscribers globally.

Investors:
Christopher Camarra
Vice President of Investor Relations
christopher.camarra@spark.net

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SOURCE Spark Networks SE

FAQ

Who are the new Board members appointed by Spark Networks?

Chelsea Grayson and Eric Eichmann have been appointed to the Board of Directors.

What positions did Chelsea Grayson hold before joining Spark Networks?

Chelsea Grayson was the CEO of True Religion and American Apparel and served on multiple boards.

When did Chelsea Grayson and Eric Eichmann join the Board of Directors?

They joined the Board of Directors on July 29, 2020.

What is Spark Networks' ticker symbol?

The ticker symbol for Spark Networks is LOV.

What is the objective of appointing new Board members?

The objective is to enhance growth initiatives and overall shareholder value.