Tinder chief executive Renate Nyborg is leaving the firm less than a year after becoming the boss of the dating app.
She left Tinder as part of several management changes that Match Group, Tinder's parent company, disclosed.
The strategic assessment is also looking at Tinder's ambitions to adopt new technology, such as virtual currencies and metaverse-based dating.
Match released second-quarter numbers that fell short of Wall Street forecasts when the announcements were made.
In a letter to shareholders, Match Group CEO Bernard Kim stated, "Today we're announcing the departure of Tinder CEO Renate Nyborg, and I've made certain changes to the management team and structure that I'm convinced will help achieve Tinder's full potential."
Ms. Nyborg's position will be filled by Mr. Kim while the firm searches for a new CEO for Tinder.
In a LinkedIn article, Ms. Nyborg stated, "I have cherished every second of the last two years, working with an I.N.C.R.E.D.I.B.L.E team on the magic of human connection."
The announcement also includes a review of plans for introducing new technologies and a reorganization of Tinder's top management team.
We've taken a step back and re-examined that endeavor after finding conflicting outcomes from testing Tinder Coins, said Mr. Kim. We also plan to look more deeply at virtual items.
It happened at the same time that Match, which also owns the dating apps OkCupid, Hinge, and Plenty of Fish, forecast sales of between $790 million and $800 million for the three months ending in September.
That was much below Wall Street projections and indicated that there would be no revenue increase for the period for the company.
Mr. Kim blamed currency changes and the pandemic's effect on people's desire to use dating apps for the dismal results.
Although most individuals have passed through lockdowns and returned to more normal routines, he claimed that the readiness of people to use online dating services for the first time hasn't yet reached pre-pandemic levels.
Shares of Match Group dropped more than 20% in Tuesday's after-hours trading in New York.
In September of last year, Ms. Nyborg was named the company's first female chief executive.
After Shar Dubey's resignation in May after just over two years in the position, Mr. Kim was named Match's chief executive.
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