Apollo Management Group, which recently bought the search engine for $ 5 billion, announced Friday that Jim Lanzone will be Yahoo’s new CEO starting Sept. 27. He succeeds Guru Gowrappan, who has been leading Yahoo since 2018 and will now move on to a senior advisory role. .
The move comes just four months after Verizon announced it would sell Yahoo to Apollo for $ 5 billion.
Lanzone has been the CEO of Tinder for about a year and helped renew the popular dating app during his tenure. He previously led digital operations for CBS for approximately a decade and has also held executive positions at IAC.
“With his proven experience and management skills, we are confident that Jim is the right leader to manage Yahoo through a new transformational phase that can leverage the best of Yahoo’s platform and performance to reach new levels,” he said. Reed Rayman, president of Yahoo and partner of Apollo. a press release.
Yahoo added that it will “invest significantly in the user experience and develop exciting new offerings that can be based on its major brands in sports, finance, news, technology and more.”
The sale of Verizon from Yahoo to Apollo is a deal that also includes AOL. Verizon, which said it would maintain a 10% stake in the derivation, had bought AOL for $ 4.4 billion in 2015 and then bought Yahoo at a similar price two years later.
The unit was briefly named Oath, but Verizon indicated that its plan would be to take over Amazon (AMZN), Google (GOOG) i Facebook (FB) it was essentially a waste when $ 4.6 billion was canceled at Oath in 2018.