Reports that Groupon's board members will in a meeting on Thursday discuss whether to begin searching for a new CEO appear to be true. In a conversation with Henry Blodget at the Business Insider Ignition conference, founder and CEO Andrew Mason said, "News flash: Our stock is down about 80 percent since the IPO...It would be weird if the board wasn't discussing if I were the right guy for the job. It would be more noteworthy if the board wasn't discussing whether I was the right guy for the job."
"As the founder and creator of Groupon, as a large shareholder and customer who loves the product we created, I care far more about the success of the company than my role as CEO," Mason added. "I think we have the strategy and team, and the board sees that and believes in the path we are on. I want to do what is best for Groupon, but when the stock is down 80 percent the board is going to be asking if you are doing the right thing."
Mason added, "I would be the first person to fire myself if I didn't feel I were the right guy for the job."
Blodget asked, are you the right guy? Mason replied, "What Groupon needs from the CEO role is consistent leadership, stability, to attract a strong team, have a winning strategy, and execution of the strategy. It's flattering that replacing me would eliminate bumps."
Groupon was founded in 2008 and currently has more than 12,000 employees and 40 million customers for its discounted online offers. The company went public at $20 a share in November 2011.