Feeds

Yet another exec dashes out Groupon's door

Voucher bazaar reported to have lost EMEA chief as it struggles in Europe

Business security measures using SSL

Groupon has lost yet another top executive, this time the chief of its international business, as its weensy second quarter profit fails to impress investors.

According to an internal memo seen by Reuters, Veit Dengler is on his way out, while Chris Muhr, SVP of sales, will take over Europe, Middle East and Africa for the voucher bazaar.

Groupon would not confirm Dengler's departure when El Reg contacted it, but the coupon site did reveal Muhr's appointment, sending us this canned quote: "After nearly three years with Groupon on both Europe and the US and MyCityDeal before that, I'm excited about this next opportunity to lead our EMEA business," said Chris Muhr, SVP and GM, EMEA. "My main priorities right now are the successful rollout of our new technologies in EMEA and giving our customers the very best experiences through outstanding offers and service."

Dengler adds to a number of senior execs who've left Groupon in the last few months, including US sales boss Lee Brown.

Groupon made its first ever profit in the second quarter, bagging $28.4m, but analysts were expecting much more than the revenues recorded, which were $568.3 rather than the $573m that the market expected.

The coupon company blamed that old chestnut, the weak European economy, for its poor profit, but that hasn't saved its share price from falling even further since the results announcement, sliding 37 per cent in that time to $4.78.

"We've made great progress in the last few months, but we still have a lot of work to do, particularly in Europe," Groupon's operations chief Kal Raman said in the internal memo.

"While our challenges in Europe are no secret, after spending two weeks there, I am energised by the great team and clear opportunities to improve," he added. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.