Technology: Companies

Tinder CEO Payne exits, co-founder Rad returns

Tinder hooks up with new CEO

Tinder's chief executive Christopher Payne will step down from his role and Sean Rad - the co-founder of the dating-app - will take his place effective immediately, the company revealed late Wednesday U.S. time.

"It's only been a few months, but there was mutual agreement here that it was not the right long-term fit, and given Tinder's rapid growth trajectory both Christopher and the Board thought prompt action was best for everyone," said Matt Cohler, a Tinder board member.

"We appreciate Christopher's work here and wish him well in future endeavors."

In a statement released by Tinder, Payne said that he believed Tinder was "going to be an incredible company."

Rad had been CEO until March, when he was replaced by Payne, a former eBay executive.

As part of the leadership shuffle, Greg Blatt, chairman of The Match Group, will assume the newly created position of executive chairman of Tinder.

The move was first reported by Re/code.