IAC/Interactive CFO McInerney to leave company

Associated Press

NEW YORK (AP) — The Internet company IAC/InterActive Corp. said Thursday that Chief Financial Officer Thomas J. McInerney will leave sometime in the coming months.

The New York company headed by Barry Diller, which owns websites like Match.com and Citysearch, said no date has been set for McInerney's departure, and he will remain CFO "through an appropriate transition."

McInerney, 47, said in a statement from IAC that the company has generated "significant" shareholder returns and is positioned for future growth, so it seemed like "an opportune time for me to take a break and be with my expanding family before embarking on new and future challenges."

McInerney has been with IAC for 12 years. He was named executive vice president and CFO in 2004 and oversees all of IAC's financial matters. Before that, he served as CEO of the company's retailing sector, CFO for Ticketmaster and as an investment banker for Morgan Stanley.

Last month, IAC said its second-quarter earnings more than tripled thanks to growth across all business segments. The company earned $42.4 million, or 44 cents per share, up from $13.6 million, or 12 cents per share, in the same period a year earlier. Revenue rose 23 percent to $485.4 million, and the performance topped Wall Street expectations.

Company shares climbed 67 cents, or 1.9 percent, to $36.62 in morning trading Thursday in line with a broader market rise.

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