Match Group Appoints Steven Bailey as New CFO for 2025

Match Group, the parent company of popular dating platforms like Tinder, has announced that Steven Bailey will take over as Chief Financial Officer (CFO) starting in early 2025. Bailey, who has been with the company since 2012 and currently serves as Senior Vice President of Financial Planning and Business Operations, will succeed Gary Swidler. Swidler held the role for almost a decade and will continue as President of Match once Bailey is officially the CFO.

This leadership change comes at a crucial time as Match Group faces pressure to reignite growth amid a slowdown in the online dating industry. Match’s recent earnings have been reportedly lower than expected, and the company has seen delays on multiple key feature releases across their various apps. This has led to Match being under increased pressure from activist investors like Starboard Value and Elliott Investment Management, who have been reportedly calling for major changes in the company’s focus.

Match is implementing new strategies to reverse this trend, including launching new subscription models and app updates. Earlier this year, Match appointed Faye Iosotaluno as the new CEO of Tinder, filling a position that had lain empty for about two years. The long-term goal of Bailey’s promotion to CFO is to secure success after recent slumps – something that will presumably be talked about in more depth on the company’s Investor Day on December 11th.