Stephen Bailey, Melissa Brenner, Wendi Murdoch & Ryan Reynolds To Join Match Group's Board of Directors

Rhea-AI Summary

On July 1, 2020, Match Group (NASDAQ: MTCH) appointed four new Directors: Stephen Bailey, Melissa Brenner, Wendi Murdoch, and Ryan Reynolds, replacing Mark Stein and Gregg Winiarski who stepped down. These new board members bring extensive expertise in consumer tech, marketing, and global markets, which is expected to support Match Group's growth trajectory. Executive Chairman Joey Levin and CEO Shar Dubey expressed excitement about leveraging their insights for the company's strategic initiatives and global expansion. The board now consists of 11 members, with eight being independent.

Positive

• Appointment of four new Directors brings diverse expertise to the board.
• Expected enhancement of strategic initiatives and global expansion.

Negative

• Departure of two board members raises concerns about continuity.
• Experience gaps created by changes in the board.

DALLAS, July 1, 2020 /PRNewswire/ -- Match Group (NASDAQ: MTCH) announced today that they have named four new Directors — Stephen Bailey, Melissa Brenner, Wendi Murdoch and Ryan Reynolds — to the Match Group Board. Match Group Directors Mark Stein and Gregg Winiarski have stepped down from the Board due to the separation from IAC.

"With today's news, we're welcoming four incredibly bright, energetic and discerning Directors to a world-class Board. Stephen, Melissa, Wendi and Ryan bring unique expertise and perspectives that will add to Match Group's global expansion, strategic initiatives and continued success," said Joey Levin, Executive Chairman of Match Group.

"I'm very excited to welcome our four new Directors to Match Group," said Shar Dubey, CEO of Match Group. "I've gotten to know Stephen, Melissa, Wendi and Ryan and all four bring extensive expertise across consumer tech, marketing, investing and emerging markets, which are critical components to the long-term growth of our portfolio. We will be greatly served by their experiences and insights and I'm looking forward to working with each of them."

"Match Group's growth, innovation and portfolio of global products make it one of the most dynamic companies in the public market. I'm excited to help the Board, Shar and the executive team find new and meaningful ways to bring people together," said Stephen Bailey.

"I am excited and grateful for the opportunity to work with Joey, Shar and the rest of the Match Group Board," said Melissa Brenner. "Match Group is an incredibly innovative organization with an inspiring mission and I look forward to helping shape the future of the company as it enters this next phase of growth."

"Match Group's impressive portfolio of brands allows them to operate around the world, in countries with very different social customs, attitudes towards dating and user behavior," said Wendi Murdoch. "But these products are still in their infancy in many parts of the world, and I'm excited to be a part of the team that is so focused on accelerating this adoption on a global basis."

"Most millennials and Gen Z can't remember what dating was like before the advent of Tinder, OkCupid and Hinge," said Ryan Reynolds. "These brands have enormous responsibility and opportunities to affect societies, all while embracing new technologies and remaining at the forefront of pop culture. I'm ready to roll up my sleeves and work with the team on their future growth and success."

Bailey currently serves as Founder and CEO of ExecOnline, a leading provider of B2B leadership development solutions through partnerships with the world's top business schools. Prior to ExecOnline, he served as the CEO and Chief Product Officer of Frontier Strategy Group (FSG), a software and information services business that Bailey grew from an early-stage start-up to a company that served nearly half the Fortune 500 across a range of international markets and business functions. Before joining FSG, Bailey was an associate in the venture capital and private equity group of WilmerHale. He is the Board Chair of the Truman Center for National Policy and a member of the Board of Prospect Schools, a charter school network in New York City.

Brenner currently serves as Executive Vice President, Digital Media for the National Basketball Association, where she leads the development, oversight and implementation of the NBA's global digital strategy and social media portfolio across multiple media platforms. She has forged groundbreaking deals with leading social media companies and, under her leadership, the NBA has built one of the largest social media communities in the world. Brenner also oversees the league's digital products and emerging technology initiatives, including machine learning as well as augmented and virtual reality.

Murdoch is an entrepreneur and investor. She is the co-founder and board member of Artsy, an online platform for collecting, discovering and selling art that partners with over 4,000 art museums, galleries, art fairs and auction houses. Murdoch has also worked as an advisor for News Corporation's businesses and investments in China. She has used her business expertise to invest in companies in Asia and the U.S. Murdoch is an award-winning producer and produced the Netflix documentary "Sky Ladder," which premiered at the 2016 Sundance Film Festival.

Reynolds is an actor, comedian, screenwriter, film & television producer and marketing executive. He has been nominated for Golden Globe and Grammy awards, and has won several awards through his career including MTV Movie Awards and People's Choice Awards. Reynolds is an owner of Aviation American Gin and Mint Mobile, which delivers affordable, premium wireless service directly to consumers. He is also the co-founder of marketing agency Maximum Effort Productions and was named to AdWeek's Creative 100 List, which honors the most creative people across advertising, marketing and television. In 2019, Maximum Effort Productions was also responsible for Aviation Gin being named Adweek's top advertiser.

In addition to Bailey, Brenner, Murdoch and Reynolds, Match Group's Board of Directors includes: Joey Levin, Executive Chairman of Match Group & Chief Executive Officer of IAC; Shar Dubey, Chief Executive Officer of Match Group;  Ann L. McDaniel, Consultant to Graham Holdings Company; Thomas J. McInerney, Chief Executive Officer of Altaba Inc.; Glenn H. Schiffman, Executive Vice President and Chief Financial Officer of IAC; Pamela S. Seymon, former partner at Wachtell, Lipton, Rosen & Katz; and Alan G. Spoon, Partner Emeritus of Polaris Partners. The Match Group Board now consists of 11 directors, including eight independent directors.

About Match Group
Match Group (NASDAQ: MTCH), through its portfolio companies, is a leading provider of dating products available globally. Our portfolio of brands includes Tinder^®, Match^®, Meetic^®, OkCupid^®, Hinge^®, Pairs™, PlentyOfFish^®, and OurTime^®, as well as a number of other brands, each designed to increase our users' likelihood of finding a meaningful connection. Through our portfolio companies and their trusted brands, we provide tailored products to meet the varying preferences of our users. Our products are available in over 40 languages to users all over the world.

Forward-Looking Statements
Certain statements and information in this communication may be deemed to be "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to Match Group's anticipated financial performance, objectives, plans and strategies, and all statements (other than statements of historical facts) that address activities, events or developments that Match Group intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as "believe," "hope," "may," "anticipate," "should," "intend," "plan," "will," "expect," "estimate," "project," "positioned," "strategy" and similar expressions, and are based on assumptions and assessments made by Match Group's management in light of their experience and their perception of historical trends, current conditions, expected future developments, and other factors they believe to be appropriate. Match Group undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including, among others: competition; Match Group's ability to maintain user rates on its higher-monetizing dating products;  Match Group's ability to attract users to its dating products through cost-effective marketing and related efforts; foreign currency exchange rate fluctuations; Match Group's ability to distribute its dating products through third parties and offset related fees; the integrity and scalability of Match Group's systems and infrastructure (and those of third parties) and Match Group's ability to adapt its systems and infrastructure to changes in a timely and cost- effective manner; Match Group's ability to protect its systems from cyberattacks and to protect personal and confidential user information; risks relating to certain of Match Group's international operations and acquisitions; the impact of the outbreak of the COVID-19 coronavirus, or any subsequent or similar epidemic or pandemic; the risks inherent in separating Match Group from IAC, including uncertainties related to, among other things, the costs and expected benefits of the transaction, any litigation arising out of or relating to the transaction, the expected tax treatment of the transaction, and the impact of the transaction on the businesses of IAC and Match Group; and other circumstances beyond Match Group's control. You should not place undue reliance on these forward-looking statements. For more details on factors that could affect these expectations, please see Match Group's filings with the SEC.

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SOURCE Match Group

FAQ

Who are the new Directors appointed to Match Group's Board?

The new Directors are Stephen Bailey, Melissa Brenner, Wendi Murdoch, and Ryan Reynolds.

What impact will the new Directors have on Match Group's growth?

The new Directors are expected to contribute to strategic initiatives and global market expansion.

Why did Mark Stein and Gregg Winiarski leave Match Group's Board?

They stepped down due to the separation from IAC.

What expertise do the new Directors bring to Match Group?

They bring extensive expertise in consumer tech, marketing, investing, and emerging markets.

How many Directors are currently on Match Group's Board?

The Match Group Board now consists of 11 Directors, including eight independent directors.