Business

Barry Diller’s InterActiveCorp gains influence with Chelsea Clinton

Barry Diller’s InterActiveCorp (IAC), owner of numerous websites including Citysearch and Match.com, announced Chelsea Clinton has joined its board of directors. The company included the news public in a regulatory filing Monday.

“Clinton, the daughter of former President Bill Clinton and current Secretary of State Hillary Rodham Clinton, is pursuing a doctorate at Oxford University and is working at the Clinton Foundation,” according to the Reuters story published by the Huffington Post. Clinton, 31, worked previously at McKinsey & Co. and Avenue Capital, IAC, the company reported in a regulatory filing.

“Her skills and background compliment the existing areas of expertise of other board members,” Justine Sacco, an IAC spokeswoman, wrote in a statement to Bloomberg.

Daya Baran, writing for WEBGUILD, fought back against any charges that Chelsea Clinton does not deserve the position: “Don’t call it influence peddling or nepotism or anything like that (consider the amount of value the former first daughter can add to the company), that only happens in developing nations and third world countries not in developed economies.”

The former first daughter serves on several other boards, including the Clinton Foundation, the School of America Ballet, Common Sense Media and the Weill Cornell Medical College, according to Bloomberg News.

In 2010, non-employee IAC directors earned a base fee of $50,000. They also received restricted stock units worth $250,000 after their election and every year following.