Groupon Inc.’s board plans to find someone from outside the company to replace Andrew Mason, who was ousted as chief executive officer of the daily deals website last week, two people with knowledge of the matter said.
Groupon Inc. slumped the most since November after forecasting sales that missed estimates, underscoring the challenge facing Andrew Mason, whose board has already considered replacing him as chief executive officer.
Groupon Inc. is seeking to hire at least two new directors to its board as it attempts to regain investor confidence following a restatement of revenue last month, two people familiar with the matter said.
Groupon Inc.’s latest restatement, following accounting missteps last year, heightens concern about the reliability of the company’s financial reporting and raises questions whether auditors gave enough oversight to the coupon provider’s novel business model.
Groupon Inc., the largest daily coupon website, is testing a credit card-reader for merchants that could vie with similar devices offered by Square Inc. and EBay’s PayPal Inc., a person with knowledge of the matter said.
Some Groupon Inc. directors plan to discuss a possible leadership change amid concern that Chief Executive Officer Andrew Mason is mishandling the company’s turnaround, a person familiar with the matter said.
Andrew Mason’s role as chief executive officer of Groupon Inc. is on the line as board members meeting today in Chicago discuss whether to seek new leadership at the top of the troubled provider of daily coupons.