By Katherine Hamilton
Match Group is seeking to declassify its board of directors as activist investors aim to alter the board.
The dating-app company said Monday it will ask for shareholder approval to declassify the board, so members are elected annually instead of for staggered three-year terms. If stockholders approve the proposal, directors elected at the 2026 annual shareholder meeting will have one-year terms.
Match also on Monday recommended against recent board nominations from activist investor Anson Funds Management. Anson, which is one of three known activists, on Friday nominated three people and said the company's long-term underperformance is a product of poor corporate governance.
Anson owns less than 0.5% of the company's stock, Match said. Match said it didn't endorse Anson's nominations because, after reviewing them, it determined they lack additional skills or expertise relevant to its strategy.
Match also appointed Darrell Cavens as a director, in connection with the 2025 annual meeting. Cavens has 20 years of e-commerce experience and co-founded the online store Zulily.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 07, 2025 08:32 ET (12:32 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.