Tags: Groupon | Board | CEO | Change

Groupon Board May Mull CEO Change Amid Growth Slowdown

Tuesday, 27 Nov 2012 08:00 PM

 

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Some Groupon Inc. directors plan to discuss a possible leadership change amid concern that Chief Executive Officer Andrew Mason is mishandling the company’s turnaround, said a person familiar with the matter.

Mason’s role will be considered in a regularly scheduled board meeting on Nov. 29, said the person, who asked not to be named because the issue is private. Directors plan to voice their frustration that the CEO has failed to show more leadership amid slowing growth and a precipitous stock decline, the person said.

The stock has dropped 80 percent since Groupon’s November 2011 initial public offering, as demand for online coupons has cooled. Mason, who co-founded Groupon in 2008, has struggled to find new sources of income.

Not all board members may be pushing for a new CEO, and this week’s meeting may not result in leadership changes, the person said.

Paul Taaffe, a spokesman for Chicago-based Groupon, declined to comment, and representatives of Groupon’s board didn’t immediately respond to requests for comment.

The technology blog AllThingsD earlier reported on the board’s planned deliberations. Shares of Groupon rose as much as 4.8 percent to $4.15 in late trading on the news. They earlier closed at $3.96 in New York.

© Copyright 2014 Bloomberg News. All rights reserved.

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