Yahoo announced it hired Tinder CEO Jim Lanzone as its new CEO, one week after private equity firm Apollo Global Management completed the acquisition of Yahoo — formerly Verizon Media.
By Yaёl Bizouati-Kennedy
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Lanzone will replace Guru Gowrappan, who said he will become an advisor to Yahoo, according to CNBC.
With the close of the transaction, Yahoo will now operate as a standalone company under Apollo Funds, which has $472 billion in assets under management. Verizon has retained a 10% stake in Yahoo, according to a statement.
In a memo obtained by CNBC, Gowrappan — who joined the company three years ago as part of Verizon — said he “made the decision to take on a new role as a senior advisor to Apollo.”
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“This role will enable me to support our next phase of growth and continued investment in the company. As such, I am excited to welcome Jim Lanzone as the new CEO of Yahoo effective September 27, 2021. Jim is a veteran technology and media leader with two decades of leadership experience and a deep track record of growth, innovation and an entrepreneurial spirit. I have every confidence he will be a terrific leader for the new Yahoo,” reads the memo.
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As for Tinder, the company announced in a statement today that Renate Nyborg has been appointed CEO, replacing Lanzone Nyborg joined Tinder in 2020 as General Manager of Europe, Middle East and Africa and will be Tinder’s first female CEO since its 2012 inception. Her first day as CEO will be Sept. 27.
“I swiped right on my husband and it changed my life,” Nyborg said in a statement. “Being CEO of this company is a truly humbling and extraordinary opportunity; to make that happen for the next generation of singles around the world.”
