Groupon co-founder Eric Lefkofsky will no longer serve as the Chicago-based company’s CEO.
Former Chief Operating Officer Rich Williams will replace Lefkofsky in the position, the company announced. Meanwhile, Lefkofsky will go back to his role as chairman of the board.
"Rich is the right and natural choice for Groupon's future, and he has the unanimous support of the Board of Directors. We are fully confident we have identified the best leader for our employees, customers, partners and shareholders," said Ted Leonsis, outgoing Chairman of the Board and newly appointed Lead Independent Director.
"With his deep experience in e-commerce — both in and outside of Groupon — and expertise in marketing, operations and technology, Rich was the obvious choice to lead Groupon,” Lefkofsky said.
Groupon planned on downsizing in late September by cutting 1,100 jobs in international Deal Factory and Customer Service, the company said at the time.
“Let’s be clear: these are tough actions to take, especially when we believe we’re stronger than ever,” Williams said. “We’re doing all we can to make these transitions as easy as possible, but it’s not easy to lose some great members of the Groupon family.”
