Tinder CEO Jim Lanzone will be next CEO of Yahoo following Apollo acquisition
- Investment firm Apollo named Tinder CEO Jim Lanzone as the new chief of Yahoo.
- Apollo closed its acquisition of Yahoo from Verizon on Sept. 1.
- Yahoo's current CEO, Guru Gowrappan, will serve as an advisor to the company.
Tinder CEO Jim Lanzone will be the new chief of Yahoo, according to a company memo obtained Friday by CNBC.
Below, you can read the full memo from former Yahoo boss Guru Gowrappan announcing the change. Gowrappan said he will become an advisor to Yahoo.
The CEO swap comes just eight days after Apollo took control over Yahoo.
CNBC reported last month that Gowrappan was uncertain about his future as private equity firm Apollo closed its transaction of Yahoo, previously known as Verizon Media, on Sept. 1.
Tinder announced on Friday that it has hired Renate Nyborg as CEO of the dating site.
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