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Jim Lanzone speaks at the 2018 Web Summit in Lisbon, Portugal, November 8, 2018.
Pedro Fiuza | NurPhoto | Getty Images
Tinder CEO Jim Lanzone will be Yahoo’s new chief, according to a memo obtained by CNBC on Friday.
You can read the full memo from former Yahoo boss Guru Gowrappan announcing the change below. Gowrappan said he would now serve as an adviser to Yahoo.
CNBC reported last month that Gowrappan was uncertain of his future employment status as private equity firm Apollo closed its transaction from Yahoo, formerly Verizon Media, on September 1. Apollo said Gowrappan was the CEO of Yahoo last week in his announcement that he had completed the acquisition. . The CEO swap comes just eight days after Apollo took control of Yahoo.
Tinder announced on Friday that it has hired Renate Nyborg as its new CEO.
Here is Gowrappan’s memo to Yahoo staff:
Team –
We have entered a new chapter in our history and I am extremely proud of all that we have accomplished together over the past three years. Like the start of any subsequent chapter, this is a natural time for transition. I made the decision to take on a new role as Apollo’s senior advisor.
This role will allow me to support our next phase of growth and continued investment in the business. As such, I am delighted 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 solid track record. in terms of growth, innovation and entrepreneurship. I have every confidence that he will be a formidable leader for the new Yahoo. Jim and I will work together to ensure a smooth transition, and I have no doubts that he will build on our successes and guide us into our future. What an incredible trip this has been.
I joined the company three years ago at Verizon. Today, we are a stand-alone company with significant potential for growth beyond what we have achieved so far. We have the best team, with the right products, content and technology to shape Yahoo’s future.
To reiterate what has been said over and over again over the past few months, this next chapter is a testament to the great work you have done against a focused strategy. Together we have returned to growth and I am grateful to call you my colleagues and friends. Now, I look forward to supporting and encouraging your continued success. I couldn’t be prouder.
Please join me for an open house today at 10:05 am PT / 1:05 pm ET. Calendar invite to come.
Best, Guru
This is last minute news. Please check for updates.
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