Groupon CEO Andrew Mason resigns

Groupon CEO, Andrew Mason, has said farewell to the online selling and purchasing firm after handing in a controversial letter to the management.

"I’ve decided I want to spend more time with my family. No, just kidding. I just got fired. If you are wondering why… you haven’t been paying attention." These were the first few lines of the letter from the CEO of Groupon.

The sell-off company with discounts and coupons via Internet has decided to dispense with the services of this manager. Groupon Mason lasted four years at the American firm. He worked in the fledgling video game industry in early
90s before coming to this site whose popularity reached its peak in early 2012.

He has been awarded the title of worst CEO of the year by CNBC for the poor performance of the company since it went public.

In the farewell, Mason has insisted that he is hoping to channel this experience positively. While recognizing the errors he said:

"Our operational and financial performance has eroded the confidence of many who supported us both inside and outside the company. Our job is to get that support."

The board will now take over Groupon until they hold election for a desirable candidate in the near future.

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Posted by Farasat Ali on Mar 2 2013. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry