FILE PHOTO: Tinder Chief Operating Officer Faye Iosotaluno speaks during the Reuters-hosted MOMENTUM event in Austin, Texas, U.S., October 11, 2022. REUTERS/Spencer Selvidge/File Photo
(Reuters) -Tinder CEO Faye Iosotaluno said on Thursday that she would step down in July, as the dating app aims to attract more users.
Iosotaluno, who has led Tinder since January 2024, oversaw the dating platform's increased focus on personalization through deeper integration of artificial intelligence into its recommendation system.
Tinder parent Match Group's CEO, Spencer Rascoff, in a LinkedIn post said he would step in to lead the Tinder team.
"Tinder is in great hands with Spencer and the leadership team," Iosotaluno said in her LinkedIn post, where she announced her departure.
Rascoff was appointed Match CEO in February, with a focus on tackling a slowdown in user engagement.
Match earlier this month reported a 5% fall in paying users during the first quarter.
The company also announced plans to cut 13% of its workforce as part of Rascoff's turnaround strategy.
The online dating industry has been facing challenges, with ongoing inflation, a shortage of innovative features, and market stagnation drawing users away from popular dating apps such as Tinder and Bumble.
(Reporting by Juby Babu in Mexico City; Editing by Mohammed Safi Shamsi)
