Tinder chief executive Renate Nyborg is leaving the firm less than a year after becoming the boss of the dating app.
Her exit was one of a number of management changes at Tinder announced by parent company Match Group.
The chief executive of Tinder has left the dating app after less than a year after the market value of its parent company plunged by more than a fifth following reporting disappointing results.
Match Group, Tinder’s parent company, also announced a halt to plans to implement virtual currencies and metaverse-based dating.
“Given the uncertainty about the ultimate contours of the metaverse and what will or will not work, as well as the more challenging operating environment,”
Match Group CEO Bernard Kim said.
Kim admitted in a shareholder letter late on Tuesday that the dating app has not been able to realise its typical monetization success over the past few quarters.
He announced the departure of Nyborg, announcing changes to the management team and structure.
"While we search for a permanent Tinder CEO, I will oversee a newly formed team of executives who will manage day-to-day operations and will ensure the Tinder organisation is well coordinated, ships great new features at increased velocity and delivers on Tinder's promise,"
said Kim.