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Mindy Ginsburg. Photo: Jerod Harris/Getty Images for Fortune

Mandy Ginsberg on Tuesday announced that she is stepping down as longtime CEO of Match Group, the owner of online dating sites including Match and Tinder.

Driving the news: Ginsberg told Match employees in an internal email, obtained by Axios, that her decision was more personal than professional, as a tornado had recently made her home "unlivable" and that she has had health issues, including a surgery just last Friday.

  • Ginsberg will be succeeded as CEO by Shar Dubey, currently Match Group's president and Tinder's former COO, effective March 1. The company also named Chief Financial Officer Gary Swidler as COO, saying that he'll handle both jobs.
  • The company's stock is down just over 1% in after-market trading.
  • Ginsberg's departure also comes just months before Match Group's planned spinoff from InterActiveCorp, Bloomberg notes.

Read the internal note from Ginsberg to Match employees:

Hi everyone. I am writing to let you know after 14 amazing years I will be stepping down from my role as CEO of Match Group. This has been an emotional decision, because I truly love this place and passionately believe in our mission to positively impact society by helping people find meaningful relationships.
When I started in 2006, we were just launching the second brand at Match and only 3% of relationships were from dating apps (that number is a whopping 50% today in North America and Western Europe and growing every day across the globe!). I have watched the organization transition from a 200 person business in Dallas, TX to a nearly 2,000 person organization and global dating powerhouse, including one of the most successful corporate incubations in internet history -- Tinder. We have become a $20B+ business because of the people who are reading this email. It has been the innovation, problem solving, creativity and tenacity that you have brought to work each day that has gotten us to this point. And the future is bright, especially with the announcement of an incredible new CEO at the helm.
Shar Dubey will be taking over as CEO of Match Group on March 1st. She has been an incredible partner for 14 years -- most recently acting as Match Group President -- and knows every inch of these businesses. Her instincts on growth levers are unparalleled; she has incredible command of the consumer internet space; and has the vision and experience to take this business forward. She is so well suited for this role and we won’t miss a beat during this transition. Not only is she a brilliant, analytical and action-oriented executive, but she is a great leader because she wants every single person on the team to win. And so many people who have worked for Shar have told me she is the best boss they have ever had. Now you all have the best boss. Lucky you.
So why am I leaving now? These last 4 months have been personally trying. In October, Dallas experienced a tornado that barreled through the city destroying many homes in its wake. Thankfully no one was killed, but the tornado hit my home, making it unlivable. This has definitely impacted my family. And I have had some recent health hiccups. I have been pretty public about the fact that after my mom and aunt died of ovarian cancer 15 years ago, I tested positive for the BRCA1 gene and at the time, opted for a preventative double mastectomy due to high risk of breast cancer. And 10 years later, just last Friday, I had to have another surgery due to an FDA recall of the implants, because they have been linked to cancer. It’s been a lot to handle. And while I expect to have a clean bill of health, short term I need to take care of myself and so will take some time off this year to do just that.
So, with lots of emotion, I ultimately made the decision that this is the best timing for me personally, and for the business. I’m so proud of what we’ve accomplished, and in a few months, I expect Match Group will start its next chapter as a fully independent public company. Shar is going to do great things and you will all love working for her. I will really miss the business, but I will especially miss the people. You guys have made my career here so fun and exciting. I will be on the sidelines cheering from the top of my lungs. Keep spreading the love around the globe.
Love, Mandy

Go deeper: The future of dating

Go deeper

3 hours ago - Politics & Policy

Trump to issue at least 100 pardons and commutations before leaving office

Photo: Mandel Ngan/AFP via Getty Images

President Trump plans to issue at least 100 pardons and commutations on his final full day in office Tuesday, sources familiar with the matter told Axios.

Why it matters: This is a continuation of the president's controversial December spree that saw full pardons granted to more than two dozen people — including former Trump campaign chair Paul Manafort, longtime associate Roger Stone and Charles Kushner, the father of Trump's senior adviser and son-in-law, Jared Kushner.

  • The pardons set to be issued before Trump exits the White House will be a mix of criminal justice ones and pardons for people connected to the president, the sources said.
  • CNN first reported this news.

Go deeper: Convicts turn to D.C. fixers for Trump pardons

Schumer's m(aj)ority checklist

Senate Minority Leader Chuck Schumer. Photo: Tasos Katopodis/Getty Images

Capitalizing on the Georgia runoffs, achieving a 50-50 Senate and launching an impeachment trial are weighty to-dos for getting Joe Biden's administration up and running on Day One.

What to watch: A blend of ceremonies, hearings and legal timelines will come into play on Tuesday and Wednesday so Chuck Schumer can actually claim the Senate majority and propel the new president's agenda.

The dark new reality in Congress

National Guard troops keep watch at security fencing. Photo: Kent Nishimura/Los Angeles Times via Getty Images

This is how bad things are for elected officials and others working in a post-insurrection Congress:

  • Rep. Norma Torres (D-Calif.) said she had a panic attack while grocery shopping back home.
  • Rep. Jim McGovern (D-Mass.) said police may also have to be at his constituent meetings.
  • Rep. Adam Kinzinger (R-Ill.) told a podcaster he brought a gun to his office on Capitol Hill on Jan. 6 because he anticipated trouble with the proceedings that day.

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