Groupon axes CEO and COO as company looks to mount a recovery during a crisis
While plenty of tech stocks have seen their market caps dive in the past month, Groupon has taken a harder hit than most. The company’s share price has dropped more than 70% in the past five weeks.
The reckoning came for Groupon’s leadership today with both CEO Rich Williams and COO Steve Krenzer ousted. In an announcement, Groupon shared that both execs would be pushed out of their roles and that Groupon’s President of North America Aaron Cooper would serve as interim CEO.