This story was written by Joseph Weisenthal.
As it gets set to break into five pieces, IAC is doing some executive rearranging. Jason Rapp, previously a key dealman as Senior Vice President of Mergers & Acquisitions, will take over as CEO of Gifts.com, the IAC-owned gift site. Rapp had been at his current role since August, 2006, when he came over from New York Times (NYSE: NYT) Digital. Gifts.com is one of several businesses that will comprise the New IAC (NSDQ: IACI). Meanwhile, the current CEO and founder of Gifts.com, William Lynch, will move to HSN as Executive Vice President, Marketing, Content and HSN.com. HSN is one of the four companies that will be spun into a standalone, publicly traded company. Release.
By Joseph Weisenthal