Match Group Settles Activist Investor Tensions, Adds New Director

Match Group has reached a settlement with activist investor Anson Funds, concluding a governance dispute that could have escalated into a proxy fight. As part of the agreement, Match will appoint Kelly Campbell, a seasoned executive and former president of NBCUniversal’s Peacock streaming service, to its board of directors.

Anson Funds, which held approximately 0.6% of Match’s shares as of late 2024, had been pressing the online dating company for board changes, cost reductions, and a reassessment of its capital strategy. The firm had pushed for three new board members, citing concerns about Match’s governance practices and what it described as an “outdated and insular” board structure.

Match, the parent company of Tinder, Hinge, and OkCupid, has also agreed to a significant governance shift. It will move toward annual elections for all directors, addressing longstanding investor criticism of its staggered board system. Currently, only a subset of directors faces re-election each year—a practice increasingly challenged by shareholder advocates seeking greater accountability.

In conjunction with Campbell’s appointment, Match disclosed that board member Alan Spoon will step down and not seek re-election at the upcoming annual meeting. In a statement, the company emphasized its “commitment to strong corporate governance practices.”

The settlement ends a period of tension that reflected broader market trends, with investors placing increasing pressure on underperforming companies. Match’s share price has declined nearly 70% over the past five years, prompting closer scrutiny of its leadership and business strategy. This resolution places Match among a growing number of firms – like Portillo’s earlier this week – that have opted to resolve activist challenges through negotiation rather than drawn-out boardroom battles. The outcomes of these board changes remain to be seen.