Andrew Mason Out At Groupon; Tweets Firing

This afternoon, Andrew Mason, founder and CEO of Groupon, tweeted a letter to his employees that he was fired as the head of the company, according to Crain’s Chicago. Groupon has been under scrutiny lately due to falling stock prices and meager results, and just yesterday released a quarterly statement outlining its poor performance. Mason has publically discussed the possibility of his removal, and his letter indicates that he was not surprised about the development. He will be replaced by chairman Eric Lefkofsky and board member Ted Leonsis. “This is likely the first Twitter response from a CEO regarding his removal,” said John Challenger, CEO of Challenger, Gray & Christmas, Inc. “Most CEOs leave their posts quietly without revealing the true nature of the departure. However, Mason was known for being outspoken leader and not one to shy away from the spotlight.” Thirty-two year old Mason led Groupon for four and a half years. Through January, 113 CEOs have left their posts, one due to differences with board, and 13 of whom led computer companies. Last year, 45 CEOs were removed/ousted. Will other CEOs turn to social media to discuss succession changes? How might the public acknowledgement impact the company?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s