(Reuters) -Tinder parent Match Group pushed back against activist Anson Funds’ nominees to its board, and appointed seasoned e-commerce executive Darrell Cavens as a new director on Monday.
Anson Funds has blamed the board for the company’s underperformance, and has pushed the company for over a year to rethink capital allocation, cut costs, and consider a strategic review of its MG Asia business.
The hedge fund, which holds a 0.6% stake in Match as of December-end, last week nominated three candidates for directors, but the company on Monday said it does not endorse the nominees.
Cavens holds nearly two decades of leadership experience in e-commerce and tech businesses. He was co-founder and CEO of online retailer Zulily and led the company from inception to its public offering, as well as its liquidity in 2023.
Anson Funds did not immediately respond to a Reuters request for comment.
Shares of the company fell 2.5% in premarket trading amid a wider market selloff.
(Reporting by Kritika Lamba in Bengaluru; Editing by Leroy Leo)
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