Tinder CEO Jim Lanzone will be the new chief of Yahoo, according to a company memo obtained by CNBC Friday.
You can read the full memo from former Yahoo boss Guru Gowrappan announcing the change below. Gowrappan said he will now serve as an advisor to Yahoo.
CNBC reported last month Gowrappan was uncertain of his future job status as private equity firm Apollo closed its transaction of Yahoo, previously known as Verizon Media, on Sept. 1. Apollo said Gowrappan was Yahoo’s CEO last week in its announcement that it completed the acquisition. The CEO swap comes just eight days after Apollo took control over Yahoo.
Tinder announced on Friday that it hired Renate Nyborg as its new CEO.
Here’s Gowrappan’s memo to Yahoo staff:
Team –
We’ve entered a new chapter in our history, and I am tremendously proud of all that we have accomplished together over the past three years. Like the start of any next chapter, this is a natural moment for transition. I’ve made the decision to take on a new role as a senior advisor to Apollo.
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. Jim and I will work together to ensure a seamless transition, and I’m confident he will build on our successes and lead us into our future. What an incredible journey this has been.
I joined the company three years ago as part of Verizon. Today, we’re a standalone company with significant potential to grow beyond what we have accomplished thus far. We have the best team, with the right products, content and technology to shape the future of Yahoo.
To reiterate what’s been said many times over the past few months – this next chapter is a testament to the great work you’ve delivered against a focused strategy. Together, we returned to growth, and I am grateful to call you my colleagues and friends. Now, I look forward to supporting and cheering on your continued success. I could not be more proud.
Please join me for an Open House today at 10:05 AM PT / 1:05 PM ET. Calendar invite to come.
Best, Guru
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