Despite rumors earlier this week that Andrew Mason's CEO role at Groupon might bein jeapordy durning the company's regularly scheduled board meeting. It appears the cat-loving, beer swilling chief has earned a repreive.
“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,” Paul Taaffe, a spokesman for Groupon, told the press.
Business Week chatted with Erik Gordon, a clinical assistant professor at the Stephen M. Ross School of Business, who remarked that it's not uncommon for the "genius entrepreneur" to step aside after the initial success of a company to make room for "an experienced CEO" to take it to the next level. Google did this very thing, and, well, it's beating Bing isn't it?
Perhaps coincidentally, Groupon's stock has started to begin to sink again since the announcement. As of press time, it's at $4.16.
David Wolinsky is a freelance writer and a lifelong Chicagoan. In addition to currently serving as an interviewer-writer for Adult Swim, he's also a comedy-writing instructor for Second City. He was the Chicago city editor for The Onion A.V. Club where he provided in-depth daily coverage of this city's bustling arts/entertainment scene for half a decade. When not playing video games for work he's thinking of dashing out to Chicago Diner, Pizano's, or Yummy Yummy. His first career aspirations were to be a game-show host.