Match Group Announces Governance Enhancements, Board Appointment, and Response to Activist Investor

Match Group (NASDAQ: MTCH) has unveiled significant governance updates ahead of its 2025 Annual Meeting, including the appointment of e-commerce executive Darrell Cavens to its Board of Directors and a proposal to declassify the Board. The company also responded to a director nomination challenge from activist investor Anson Funds.

Key Developments:

1. Darrell Cavens Joins the Board
Match Group will appoint Darrell Cavens, co-founder and former CEO of Zulily, to its Board. Cavens brings two decades of leadership experience in e-commerce, product innovation, and consumer engagement. His background includes executive roles at Qurate Retail, Microsoft, and Blue Nile, and current board seats at Tapestry and Brooks Running.

2. Proposal to Declassify the Board
Match Group intends to seek shareholder approval to declassify its Board, transitioning from staggered three-year terms to annual elections. If approved, new directors starting in 2026 would serve one-year terms. This move reflects the company's commitment to strengthening shareholder alignment and corporate governance.

3. Rejection of Anson Funds' Board Nominees
Match Group’s Board has reviewed and rejected the director nominations from Anson Funds, stating the candidates do not bring incremental value aligned with the company’s strategic goals. The company encouraged shareholders to vote for its slate of nominees and noted Anson Funds currently owns less than 0.5% of Match Group stock and recently reduced its holdings.

Match Group highlighted recent constructive board refreshment, such as the 2024 appointments of Laura Jones and Spencer Rascoff following engagement with Elliott Management.