Tinder Loses New CEO

Los Angeles-based mobile dating app developer Tinder said late Wednesday that its brand new CEO, Christopher Payne, is leaving the company, and that it will reappoint Tinder founder Sean Rad as CEO. Greg Platt, Chairman of The Match Group--Tinder's parent company--will become Executive Chairman. According to Tinder, the move came because of a mutual agreement that Payne was "not the right long-term fit" for the company. Payne had only been appointed CEO of Tinder five months ago. Tinder is a unit of IAC.