Tinder CEO to step down in July

Faye Iosotaluno, the CEO of Tinder, will step down from her role in July, according to a post she published on LinkedIn. 

Isootaluno served less than a year in the role, and spent nearly eight years overall at the company, which is owned by Match Group. In her post, she said she was “especially proud to build and work alongside an exceptional team.” She said what is next for her is “deeply personal.”

“The consumer tech landscape is evolving in exciting, unpredictable ways – and so are my own ambitions,” she wrote. “Building upon the headway and lessons I’ve learned at Tinder where diverse voices around the table make better and more impactful decisions, I’m drawn to replicating that progress by supporting and building alongside the next generation of women leaders, founders, and investors.”

Meanwhile, in a separate post, Match Group CEO Spencer Rascoff said he would step in to lead the Tinder team. 

“I’m grateful for the time we’ve spent together over the past few months preparing for this news to ensure a smooth transition,” he wrote. “As I step in to lead the team, I’m energized by the momentum you’ve helped create and excited to continue building with the exceptional leaders in place.”

Match Group is trying to find ways to boost Tinder’s growth, Bloomberg reports. Earlier this month, Match Group announced a 13% reduction in staff to cut costs and streamline decision-making. A chunk of those cuts were at Tinder, Bloomberg reported.