What Barry Diller Did on His Summer Vacation

IAC chairman and senior executive Barry Diller, who relinquished the CEO title Thursday to former Match.com CEO Greg Blatt, shared the Barry Diller version of “What I Did on My Summer Vacation” with Fortune.

Speaking about the time off he takes every summer for deep thinking, and the transition to Blatt, Diller told Fortune:

I call it my summer project. My executives always brace themselves. I told them the company wasn’t being managed correctly. I never thought I was a very good manager. I mean, I am decent, but I want to go back to what I am good at, which is looking for opportunities to grow the business. Greg is a better manager than I am.

One of my friends joked that this was retirement with more control, but I don’t think that’s right. It will be different. I’m also still chairman of Expedia. But four to five years from now, who knows?

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