Feeds

Groupon chief Mason keeps his job - despite rubbish share price

'I'd fire myself if I wasn't right for the job, but I am'

Secure remote control for conventional and virtual desktops

Groupon boss Andrew Mason has managed to hang on to his seat at the top, despite rumours that the board was considering giving him the boot.

Reports that Mason's days might be numbered first appeared on AllThingsD, after which Mason said at a conference that he thought it would be strange if the board didn't consider sacking him.

"Here's a news flash: our stock is down about 80 per cent. It would be weird if the board wasn't discussing whether I'm the right guy to do the job. It's their chief responsibility to ask that question," he said. "If I ever thought I wasn't the right guy for the job, I'd be the first person to fire myself."

Either Mason's willingness to fall upon his own sword or the prospect that he would be shown the door got investors excited and sent shares up 12 per cent on Wednesday.

After the board meeting yesterday, company spokesman Paul Taaffe said that Mason was staying on as CEO.

"The board and the management team are focused on the performance of the company and they are all working together with heads down to achieve Groupon's objectives," Taaffe said in an emailed statement to Reuters, The Guardian and others.

After a glittering market debut last year, Groupon's shares have steadily fallen as it fails to report significant profits and its business model starts to look shaky.

The novelty of the voucher bazaars seems to wearing off and both Groupon and its rival LivingSocial are trying to either reignite interest or diversify into other areas. Groupon has Goods now, which offers long-running deals on products, but the unit is too new to know if it's a big enough crutch or not. ®

Website security in corporate America

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
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.