IAC’s new M&A boss is company vet Shana Fisher.
The top dealmaker post at IAC had been split between Shana and Joey Levin — Joey doing the financial side, Shana doing the strategic.
But Joey is vacating that post to become CEO of IAC subsidiary Mindspark. He’s taking over for John Park, who is quitting the company.
Mindspark is home to brands like virtual world for kids Zwinky, Webfetti and MyWebFace. A source tells us its “very profitable.”
IAC is a infamously deal-happy company, run by a deal-happy man, Barry Diller. So Shana’s job should be a busy one, especially now that IAC is diving into video/content, as part of its new venture with former NBC programming topper Ben Silverman.
Here is Barry’s memo on the switcheroo:
I wanted to share some news regarding changes at Mindspark. John Park, who for more than 10 years has demonstrated a distinct blend of business acumen and creative entrepreneurialism overseeing Mindspark and the launch of brands like Zwinky, Webfetti and MyWebFace, has decided to move on from his role as CEO of Mindspark to further pursue his entrepreneurial spirit outside of IAC.
Joey Levin will assume the role of CEO of Mindspark. An IAC veteran, Joey has repeatedly shown his strength as a business leader at IAC, with senior roles managing IAC’s Strategic Planning, Finance and M&A practices over the past 6 years. Having already spent a number of months deeply involved in the strategic oversight and day-to-day operations of Mindspark, I have no doubt Joey will excel as a leader, just as he has done within IAC.
Also joining Joey and the Mindspark team is Mark Stein who has been named Chief Strategy Officer. Currently SVP of Corporate Development for IAC, Mark has tremendous knowledge of the IAC businesses and will be a great asset to help drive growth for Mindspark. He will also retain his corporate role at IAC. Shana Fisher, who has had a strong hand in IAC’s M&A operation for almost 6 years, in addition to overseeing many of IAC’s strategic planning initiatives, will assume full oversight of IAC’s M&A function.
We thank John for his tremendous passion and leadership at Mindspark over the last 10 years and know that the entrepreneurial spirit that has served him so well at IAC, will lead him to great things with his new endeavours. I also welcome you to join me in congratulating Joey Levin who will no doubt bring great energy, ideas and inspiration to Mindspark.