Welcome to the MacNN Forums.

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

You are here: MacNN Forums > News > Tech News > Groupon CEO fired by board of directors, no successor named

Groupon CEO fired by board of directors, no successor named
Thread Tools
MacNN Staff
Join Date: Jul 2012
Status: Offline
Reply With Quote
Feb 28, 2013, 05:00 PM
 
After speculation starting nearly as soon as he was selected for the position, Andrew Mason has been ousted as CEO of group discount site Groupon by the company's board of directors. The last straw was likely the poor quarterly earnings posted yesterday for the critical holiday quarter. Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis have created an Office of the Chief Executive until the hunt for a new candidate is complete.

In the tongue-in-cheek email announcing his departure, Mason said that he "decided that I'd like to spend more time with my family. Just kidding - I was fired today. If you're wondering why ... you haven't been paying attention," likely referring to the financial results under his leadership and a dramatic fall in the stock price since the initial offering. He has no comment on where he's headed, and says he's taking some time off to "decompress." Also, he sees the company as being able to stay the course and recover from the financial hole it is in currently. He said in the email that "you deserve the outside world to give you a second chance. I'm getting in the way of that. A fresh CEO earns you that chance. The board is aligned behind the strategy we've shared over the last few months, and I've never seen you working together more effectively as a global company - it's time to give Groupon a relief valve from the public noise."
( Last edited by NewsPoster; Mar 1, 2013 at 03:03 AM. )
     
   
Thread Tools
Forum Links
Forum Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Top
Privacy Policy
All times are GMT -4. The time now is 05:37 PM.
All contents of these forums © 1995-2015 MacNN. All rights reserved.
Branding + Design: www.gesamtbild.com
vBulletin v.3.8.8 © 2000-2015, Jelsoft Enterprises Ltd., Content Relevant URLs by vBSEO 3.3.2