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He's being replaced by Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonisis. They will serve as co-CEOs until they find a permanent replacement. He

He's being replaced by Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonisis. They will serve as co-CEOs until they find a permanent replacement. Here is Lefkofsky's statment: 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. 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. Source: http://techcrunch.com/2013/02/28/ceo-andrew-mason-replaced-by-eric-lefkofsky-and-vice-chairman-ted-leonsis-at-groupon/ http://techcrunch.com/2013/02/28/ceo-andrew-mason-replaced-b...

koenigdavidmj 14y ago
Since having two CEO:s worked so well for RIM^H^H^HBlackBerry.
- chollida1 14y ago
  To be fair, it worked extremely well for many years. Admittedly when the wheels fell off, they really fell off. I'm not sure you can make a judgement about 2 CEO systems from BBRY.
  - mbreese 14y ago
    Also, it's not like the dual-CEO thing is supposed to be permanent at Groupon. I think they are just looking for some breathing room right now.
    - linker3000 14y ago
      ...or they had a special deal this week: Appoint one, get one free.
  - richan90 14y ago
    Google had a triumvirate structure for quite some time, though with one "official" CEO.
- lawnchair_larry 14y ago
  A sample set of one makes for a bad survey.
jedc 14y ago
And if I remember correctly, Eric Lefkofsky was one of the investors who cashed out ~$1billion (!) of his Groupon shares during one of their last VC rounds. I'm surprised they were able to do that, but so many people were killing themselves to be a part of the deal that Eric was able to push this slimy deal through. How any rational VC allows early investors to do that is beyond me... Nothing against the guy (I have no experience with him) but that deal just smelled rotten. So I'm not convinced that these two people are going to be particularly effective replacements/stand-ins.
- newman314 14y ago
  He's done this rinse and repeat thing several times. See Wikipedia: http://en.wikipedia.org/wiki/Eric_Lefkofsky http://en.wikipedia.org/wiki/Eric_Lefkofsky Also, * http://www.businessinsider.com/insider-selling-groupon-2011-6 http://www.businessinsider.com/insider-selling-groupon-2011-... * http://tech.fortune.cnn.com/2011/06/10/groupon-eric-lefkofsky/ http://tech.fortune.cnn.com/2011/06/10/groupon-eric-lefkofsk...
- yuhong 14y ago
  Reminds me of this: http://news.ycombinator.com/item?id=4284524 http://news.ycombinator.com/item?id=4284524
- edouard1234567 14y ago
  Taking cash off the table is not seen as a negative signal if done systematically.
  - newman314 14y ago
    Read the links I posted. Much of the last round of funding went to them instead of to Groupon. So, in a way, they took money that could have been used to grow/invest in Groupon away. So this is not your normal "diversifying the portfolio" move.
checker 14y ago
No wonder the Capitals have been struggling. Ted's been overextended between them, the Wizards, and the Groupon restructuring.

koenigdavidmj 14y ago

Since having two CEO:s worked so well for RIM^H^H^HBlackBerry.

chollida1 14y ago
To be fair, it worked extremely well for many years. Admittedly when the wheels fell off, they really fell off. I'm not sure you can make a judgement about 2 CEO systems from BBRY.
- mbreese 14y ago
  Also, it's not like the dual-CEO thing is supposed to be permanent at Groupon. I think they are just looking for some breathing room right now.
  - linker3000 14y ago
    ...or they had a special deal this week: Appoint one, get one free.
- richan90 14y ago
  Google had a triumvirate structure for quite some time, though with one "official" CEO.
lawnchair_larry 14y ago
A sample set of one makes for a bad survey.

jedc 14y ago

And if I remember correctly, Eric Lefkofsky was one of the investors who cashed out ~$1billion (!) of his Groupon shares during one of their last VC rounds. I'm surprised they were able to do that, but so many people were killing themselves to be a part of the deal that Eric was able to push this slimy deal through. How any rational VC allows early investors to do that is beyond me... Nothing against the guy (I have no experience with him) but that deal just smelled rotten. So I'm not convinced that these two people are going to be particularly effective replacements/stand-ins.

newman314 14y ago
He's done this rinse and repeat thing several times. See Wikipedia: http://en.wikipedia.org/wiki/Eric_Lefkofsky http://en.wikipedia.org/wiki/Eric_Lefkofsky Also, * http://www.businessinsider.com/insider-selling-groupon-2011-6 http://www.businessinsider.com/insider-selling-groupon-2011-... * http://tech.fortune.cnn.com/2011/06/10/groupon-eric-lefkofsky/ http://tech.fortune.cnn.com/2011/06/10/groupon-eric-lefkofsk...
yuhong 14y ago
Reminds me of this: http://news.ycombinator.com/item?id=4284524 http://news.ycombinator.com/item?id=4284524
edouard1234567 14y ago
Taking cash off the table is not seen as a negative signal if done systematically.
- newman314 14y ago
  Read the links I posted. Much of the last round of funding went to them instead of to Groupon. So, in a way, they took money that could have been used to grow/invest in Groupon away. So this is not your normal "diversifying the portfolio" move.

checker 14y ago

No wonder the Capitals have been struggling. Ted's been overextended between them, the Wizards, and the Groupon restructuring.