IAC Reorganizes, Greg Blatt to become Chairman of IAC's newly-created Match Group
IAC (Nasdaq: IACI) announced today that it is reorganizing and that Greg Blatt, the Company's CEO, will become the Chairman of the newly created Match Group, which will initially consist of IAC's Match businesses, Tutor.com, DailyBurn and IAC's investment in Skyllzone. Mr. Blatt will continue to report directly to Barry Diller, the Chairman and Senior Executive of the Company. Sam Yagan, the CEO of Match, will become CEO of the Group, continuing to report to Mr. Blatt, where he will focus on growing the dating businesses, leveraging best practices across the Match Group, and expanding the Match Group portfolio beyond its current verticals. Mr. Blatt will step down as CEO of IAC, and the Company does not intend to name a new CEO. Instead, Joey Levin, CEO of Search & Applications, and Kerry Trainor, CEO of Vimeo, will now report directly to Mr. Diller.
"Greg Blatt has performed superbly as CEO of IAC for the last three years," said Mr. Diller. "During that period, we've essentially doubled our stock price and increased our operating profit by over 180%. Over the last three years our areas of focus have crystallized, our management teams have developed, our