Groupon May Be Headed Toward New CEO

By
Andrew Mason.

It wasn't that long ago that Groupon was the terror of the food world, its deal offerings reshaping the economics of the restaurant business (and not in a sustainable way for many). But you don't hear the buzz about what Groupons are being offered any more, and Groupon has been trying to branch out to use the infrastructure it has in new ways. But it may not be quick enough to save founder-CEO Andrew Mason's reputation as an internet visionary. The Wall Street Journal's All Things Digital reports that board members including fellow founders Eric Lefkofsky and Brad Keywell are considering bringing in a new CEO, after "urging Mason to be more aggressive and public about the companys turnaround efforts." The idea is apparently not so much to replace Mason as to add more experienced leadership, as Google did, to focus on immediate needs in the wake of the company's precipitous stock decline (it's now trading around one-sixth of its IPO price). [WSJ]