Media mogul and IAC chairman Barry Diller is set to run the company following the departure of CEO Joey Levin as part of a reorganization in connection with a spin-off of home services platform Angi.
“Joey Levin has wanted a store of his own for some time and the spin-off of Angi affords him this opportunity. Although IAC will relinquish his services as CEO, we expect that he will continue to advise us for many years. As we approach yet another milestone, IAC does what it does best: evolves. Joey Levin has been an exemplary leader of IAC, creating significant value during his nearly decade-long tenure as IAC CEO,” Diller said in a statement.