Is Andrew Mason's Time as Groupon (GRPN) CEO About to Be Cut Short?
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Groupon (Nasdaq: GRPN) is looking strong in late trading today following reports out of AllThingsD that there might be a shift atop the hierarchy. A big shift.
ATD says the CEO and co-founder Andrew Mason might either be out or have a fellow co-CEO soon. Board members are said to have been holding discussions over such a possibility.
Of course, it's not likely that Andrew Mason will be out soon, or at all. He does still have connections on the Board, ATD notes.
Rather than go with something like an Eric Schmidt at Google (Nasdaq: GOOG), Groupon recently promoted Kel Raman to COO. The former Amazon.com (Nasdaq: AMZN) executive is aiding Mason in taking on many of the day-to-day operatnioal aspects of Groupon.
Though shares are down 85 percent from its IPO just last year, one vote of confidence came from Tiger Global Management, which boosted its stake to 9.9 percent, or 65 million shares. That position is up markedly from the 1.3 million held at the end of September.
Whether Groupon will be able to turn itself around with a stronger executive base or co-CEO is yet to be seen. Investors will keep an eye on results of the Board meeting, which is slated for the end of this week, as well as any hints on whether or not Groupon's effort to handle payment processing is taking hold.
Groupon shares are up 2.8 percent Tuesday night.
ATD says the CEO and co-founder Andrew Mason might either be out or have a fellow co-CEO soon. Board members are said to have been holding discussions over such a possibility.
Of course, it's not likely that Andrew Mason will be out soon, or at all. He does still have connections on the Board, ATD notes.
Rather than go with something like an Eric Schmidt at Google (Nasdaq: GOOG), Groupon recently promoted Kel Raman to COO. The former Amazon.com (Nasdaq: AMZN) executive is aiding Mason in taking on many of the day-to-day operatnioal aspects of Groupon.
Though shares are down 85 percent from its IPO just last year, one vote of confidence came from Tiger Global Management, which boosted its stake to 9.9 percent, or 65 million shares. That position is up markedly from the 1.3 million held at the end of September.
Whether Groupon will be able to turn itself around with a stronger executive base or co-CEO is yet to be seen. Investors will keep an eye on results of the Board meeting, which is slated for the end of this week, as well as any hints on whether or not Groupon's effort to handle payment processing is taking hold.
Groupon shares are up 2.8 percent Tuesday night.
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