(Reuters) - Tinder-owner Match Group (O:MTCH) said on Tuesday Chief Executive Officer Mandy Ginsberg was stepping down after 14 years and would be replaced by her long-time deputy Sharmistha Dubey, sending its shares down 1.6% after the bell.
It said Dubey, assuming the CEO's role on March 1, was most recently Match Groups' president, and has previously served as Tinder's chief operating officer, leading the team that launched its most successful monetization feature Tinder Gold.
The Wall Street Journal earlier reported citing an internal memo that Ginsberg was stepping down following challenges in her personal life. (https://on.wsj.com/2tMlFot)
In October, her Dallas home was hit by a tornado and last week she underwent surgery, the report noted.
"Mandy will always be a part of the Match Group family, wherever she is. But, if she will no longer be here, we cannot imagine a better successor than Shar(mistha)," said Match Group Chairman Joey Levin in a statement.
The company also named Gary Swidler as chief operating officer, in addition to his role as chief financial officer.