Groupon CEO in jeopardy of losing his job?

With the stock in a free fall and Groupon's board meeting this week, Andrew Mason's tenure as CEO reportedly faces opposition.

Update: 3:06 PM PT A couple of years ago, Andrew Mason had a chance to sell Groupon to Google for $6 billion but instead pressed ahead with the company's IPO. The insiders reaped a windfall but investors buying at retail must now feel like bag holders. Shares of Groupon finished today at $3.96, down from their 52-week high of $25.84.

Lesley Stahl and Andrew Mason
Lesley Stahl with CEO and founder of Groupon Andrew Mason. CBS
As the stock fell, questions about Mason's stewardship have multiplied and now there's a new report that his tenue may be in jeopardy. With the company's board of directors meeting this week, All Things D's Kara Swisher writes that "several board members of Groupon have been seriously discussing making major leadership changes at the Chicago-based daily deals company, including bringing in a more experienced CEO to take over for co-founder Andrew Mason."

A spokeswoman for Groupon said the company had no comment.

As coincidence would have it, Mason is slated to appear at a conference tomorrow sponsored by Business Insider.

About the author

Charles Cooper was an executive editor at CNET News. He has covered technology and business for more than 25 years, working at CBSNews.com, the Associated Press, Computer & Software News, Computer Shopper, PC Week, and ZDNet.

 

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