IAC Appoints Glenn H. Schiffman as Chief Financial Officer

NEW YORK, April 7, 2016 /PRNewswire/ -- IAC (NASDAQ: IAC) today announced the appointment of Glenn H. Schiffman as Chief Financial Officer, effective immediately. A veteran banker, leader, and dealmaker in the media and entertainment industries, Mr. Schiffman has advised a marquee roster of global clients during his 25-year career, which includes positions at Guggenheim Partners, The Raine Group, and Lehman Brothers. In his new role at IAC, Mr. Schiffman will oversee corporate finance, accounting, M&A, investor relations, and administration functions, reporting to IAC Chief Executive Officer Joey Levin.

"I've known Glenn for over 10 years and he has exemplified an outstanding record of integrity, creativity, and operational leadership – I was thrilled when he agreed to join us," said Joey Levin, CEO, IAC. "Glenn's deep wealth of experience and steady hand in advising some of the world's largest media companies will be a tremendous asset to IAC."

Prior to his most recent role as Senior Managing Director at Guggenheim Securities, Mr. Schiffman was a Partner at The Raine Group, a merchant bank focused on advising and investing in the technology, media, and telecommunications industries. Previous leadership roles include Co-Head of Global Media at Lehman Brothers, Head of Investment Banking Asia-Pacific at Lehman Brothers, and subsequently Nomura, as well as Head of Investment Banking, Americas for Nomura following Nomura's acquisition of Lehman's Asia business. Mr. Schiffman is a member of the National Committee on United States-China Relations and serves as a Member of the Board of Visitors for the Duke University School of Medicine.

"IAC has transformed industries and created extraordinary shareholder value through a visionary and disciplined approach that has yielded eight individual public companies to date," said Glenn H. Schiffman, CFO, IAC. "I'm grateful to be joining the company at another exciting inflection point. IAC has numerous growth engines, an impressive balance sheet, and a world-class management team at the helm. I'm honored to play an active role in shaping the next chapter of IAC's successful story."

Mr. Schiffman succeeds Jeff Kip, whose departure as CFO was announced last summer. IAC also announced today that Mr. Kip will remain with the Company and oversee the international expansion of the HomeAdvisor business. "We've found a way to keep Jeff in the family in a new operating role," said Joey Levin.  "Jeff has been a key contributor in HomeAdvisor's success, so we're very pleased to charge him with replicating and growing that success abroad."

About IAC

IAC (NASDAQ: IAC) is a leading media and Internet company comprised of some of the world's most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group's online dating portfolio, which includes Match, OkCupid and Tinder. The company is headquartered in New York City and has offices worldwide. Learn more at www.iac.com.

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SOURCE IAC

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