Benzinga | Jun 8, 2021 04:11PM EDT

IAC Announces CFO Glenn H Schiffman Will Depart From The Co.

IAC (NASDAQ:IAC) announced that Executive Vice President and Chief Financial Officer Glenn H. Schiffman will depart the company to pursue a new opportunity following a couple months of a transitional period.

IAC has initiated a search for a permanent replacement. In the interim, IAC's talented and long-time financial executive leadership team, including Senior Vice President and Controller Michael Schwerdtman, Senior Vice President, Finance and Investor Relations Mark Schneider, and Senior Vice President and Treasurer Nick Stoumpas, will report directly to IAC CEO Joey Levin and continue to oversee key financial functions at both IAC and Angi Inc. (NASDAQ:ANGI). Mr. Schiffman will remain on the Angi Board of Directors.

"Glenn's amazing. He has been a real partner in IAC's growth and success and we're grateful for his energy and leadership. I have no doubt he'll continue to do great things," said Joey Levin, CEO of IAC. "Our financial operations across IAC are world class with trusted, seasoned executives with decades of collective experience in finance leadership roles and long-tenured roles at IAC. They will undoubtedly ensure a seamless transition as we find a new CFO and focus on the opportunities ahead."

"It has been a true privilege to be a part of such an exceptional team and to contribute to the recent success of IAC," said Glenn H. Schiffman. "It has been an incredible run over the last five years and just a delight to have worked with our talented finance team and have been a small part of the incredible legacy of IAC. I couldn't be prouder of our work helping IAC build lasting shareholder value and helping to shape the next generation of great companies. I look forward to cheering on the entire IAC team and I'm excited to continue helping drive success at Angi."