Yahoo! Inc., the largest U.S. Web portal, said Fred Amoroso resigned as chairman and won’t seek re-election as a director while the company undergoes a fresh turnaround effort by Chief Executive Officer Marissa Mayer.
Groupon Inc.’s decision to fire Andrew Mason puts pressure on Chairman Eric Lefkofsky to find a replacement who can create a money-making business after the daily-deal provider lost $723.8 million in the past three years.
Groupon Inc. ousted Andrew Mason as chief executive officer a day after reporting results that disappointed investors and underscored his failure to cope with diminished demand for daily coupons, the company’s main product.
Yahoo! Inc. named Marissa Mayer chief executive officer, appointing a technologist who has managed some of Google Inc.’s most popular products to help reverse market-share losses that fueled three years of sales declines at the biggest U.S. Web portal.
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.