Groupon fires CEO - ABC 33/40 - Birmingham News, Weather, Sports

Groupon fires CEO

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  • Friday, May 17 2013 11:17 PM EDT2013-05-18 03:17:33 GMT
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Chicago, IL -

After a series of poor quarterly earnings, Groupon CEO, Andrew Mason has been fired.  Mason, in a letter to employees, joked that he was leaving to spend more time with his family. Then, in typical Mason style, added, "just kidding, I was fired today."

After falling short of expectations Groupons stock fell 24% Thursday to $4.53 a share.

Groupon will a conduct a search to replace Mason.  Until then, Eric Lefkofsky, the chairman and co-founder, and Ted Leonsis, the board's vice chairman will act has chief executives for the company.

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