Tinder replaces CEO in sudden leadership shake-up

Tinder, owned by media conglomerate IAC, said that Greg Blatt will assume the newly created position of executive chairman at the firm.

Sean Rad, founder of the popular dating app who has been serving as president, will replace Payne as CEO, according to CNNMoney.

Now, reports that CEO Chris Payne is due to step down, suggest that the business’s inner circle is also far from a ocean of calm.

Payne was employed to say stronger management at Tinder in mild of the sexual harassment scandal.

Tinder board member and Benchmark partner Matt Cohler broke the news to Re/code’s Kara Swisher on Wednesday that Payne was not a good ” long-term fit” and Rad was retaking the reins.

Rad’s return was surprising, given that, when he stepped down in March, it was widely seen as a move by IAC to bring in someone the company had more faith in to navigate Tinder.

“I enjoyed my time at Tinder but we mutually determined that this wasn’t going to be optimal and thought that a quick transition served everybody best”, Payne said in the release. Rad will be working closely with Blatt towards this endeavor. The company rolled out its first paid product, “Tinder Plus”, which lets users pay a monthly fee to undo decisions to pass on a potential romantic match and to see potential matches in other places in the world ().

Tinder uses location to serve up matches nearby.

For now, the new changes at the executive level go in effect immediately, aiming to fuel the company’s growth.