ParshipMeet Group reorganizes businesses under new leadership structure

ParshipMeet Group reorganizes businesses under new leadership structure

Integrated approach to set up the company for future growth

New leadership structure: Marc Schachtel appointed CEO, Henning R nneberg CFO & COO

Former co-CEO Geoff Cook leaves the Group on the best of mutual terms

Streamlined organizational set-up accompanied by cost efficiencies

Jim Bugden, COO Video, will continue to operationally oversee Video activities

Hamburg, March 23, 2023. ParshipMeet Group, one of the leading international providers in Dating and Video, is reorganizing its businesses focusing on a more integrated approach. The new structure is designed to set the company up for future growth, based on an effective and efficient operating model.

The reorganization is reflected in a new leadership structure. Marc Schachtel (so far: co-CEO) has been appointed CEO and Henning R nneberg (so far: CFO) CFO and COO of ParshipMeet Group. The two Board members have been in managing position within the company for a combined 26 years. Former co-CEO and The Meet Group co-founder Geoff Cook leaves the company on the best of mutual terms to pursue new entrepreneurial endeavors outside the Group.

Bert Habets, Chairman of the Executive Board (Group CEO) of ProSiebenSat.1 Media SE and responsible Board member for ProSiebenSat.1's Dating & Video segment: I'd like to thank Geoff for his great contribution to the success of our Dating and Video activities. As the co-founder of The Meet Group, Geoff has been the driving force behind an outstanding entrepreneurial success story, and I wish him all the best for his future. By fully integrating ParshipMeet Group's brands and services combined with the new leadership structure, I am confident that the company will tackle the growing online dating market with even more vigor and cohesion. I look forward to continuing our trustful work with Marc, Henning, and their teams.

Under the new structure, ParshipMeet Group's brands are to complement each other even better with regards to product, target audiences, user intentions, and territories. Both the Group's dating apps and Livebox, the company's livestreaming solution for the Creator Economy, are to contribute to ParshipMeet Group's future growth. In alignment with the new leadership structure, ParshipMeet Group will also streamline its organizational set-up, leveraging former redundancies and implementing efficiencies, including personnel costs. These adjustments will mostly affect the U.S. operations of the Video segment.

Marc Schachtel, CEO of ParshipMeet Group: Together with our shareholders ProSiebenSat.1 and General Atlantic, we have taken the necessary time to carefully review our organizational set-up. The new structure enables us to bring our assets closer together. While we expect these efforts to result in tangible synergies, they are clearly aimed at supporting our growth ambitions. Historically, our success has been built on executing on M&A, integration, and brand positioning. We most recently delivered on that in turning eharmony into the biggest brand in our portfolio in terms of revenue. By continuing to focus on first-class online dating and livestreaming experiences, we want to create even more meaningful connections and entertaining moments for our users around the globe. I would like to thank Geoff for our cooperation as a co-CEO team and wish him all the best.

As COO Video, Jim Bugden will continue to operationally oversee ParshipMeet Group's Video activities. Jim Bugden has been with the company for twelve years, most recently helping expand Livebox's third-party customer portfolio. The Livebox solution allows streamers to quickly and easily connect with their audiences and monetize their livestreams.

Geoff Cook: I've spent the last 18 years building some of the most successful dating apps and the livestreaming engine behind some of the top-grossing social apps in the U.S. All our success I owe to the team's tremendous efforts, and I will always be proud of what we have achieved together. Early on, I saw the logic in dating industry consolidation, leading us to grow a portfolio of apps including MeetMe, the app I co-founded, Skout, Tagged, LOVOO, and GROWLr. With the merger between Parship Group and The Meet Group over the past 2.5 years, we created a dating and video leader. While the future of ParshipMeet Group is bright, now for me is the best time to start my next entrepreneurial chapter. I have great respect for Bert, Marc, and Henning, and wish everyone at ParshipMeet Group the best of success.

Geoff Cook founded what was then myYearbook in 2005 and as CEO managed to successfully transform the company's business model to the era of mobile apps. Following the acquisitions of the Skout, Tagged, and LOVOO brands, he formed The Meet Group (TMG), soon focusing the business on the integrated livestreaming solution Livebox (then: vPaaS - video-Platform-as-a-Service). After TMG was acquired by Parship Group to form ParshipMeet Group, Geoff first served as General Manager Video, and, since July 2021, as co-CEO for the newly merged company.

LINK:	https://en.prosiebensat1.com/en/press/parshipmeet-group-reorganizes-bu...
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