Tinder’s parent company Match Group has appointed Steven Bailey as its new chief financial officer, effective March next year.

Bailey, who joined the company in 2012, currently serves as senior vice president of financial planning and business operations, succeeding Gary Swidler, who has held the CFO role for nearly a decade. Swidler will remain as president.

Match Group’s third-quarter revenue forecast has fallen below Wall Street expectations, driven by a decrease in consumer spending on dating apps.

Notably, Tinder reported an 8% decline in paying users, dropping to 9.6 million in the second quarter, following a 9% decrease in the prior quarter.