Groupon just announced that CEO Andrew Mason will no longer remain CEO of the company, which he founded. The company reported massively disappointing financial results on Wednesday, and the board has finally had enough. <\/p>\n
Groupon Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis have been appointed to a newly created “Office of the Chief Executive,” effective immediately. They will serve in this role until they find a replacement for Mason. The search has already commenced. <\/p>\n
“On behalf of the entire Groupon Board, I want to thank Andrew for his leadership, his creativity and his deep loyalty to Groupon. As a founder, Andrew helped invent the daily deals space, leading Groupon to become one of the fastest growing companies in history,” said Lefkofsky.<\/p>\n
“Groupon will continue to invest in growth, and we are confident that with our deep management team and market-leading position, the company is well positioned for the future,” said Leonsis.<\/p>\n
The company is careful to note that guidance outlined in its announcement on Wednesday remains unchanged. <\/p>\n
Frankly, it was only a matter of time until the company ousted Mason. Rumors were already swirling late last year that it was about to happen. They managed to pretty much stifle the rumors<\/a> until this week. <\/p>\n Mason tweeted out a message to Groupon employees: <\/p>\n