Andrew Mason Fired as CEO of Groupon Inc.

Today was the last day Andrew Mason served as CEO of Groupon Inc. “Groupon fires CEO, Mason admits ‘failure’ in candid memo” reports Groupon “launched a search for a new leader to turn the company around, the same day its stock slid 24 percent after dismal quarterly results report.” The firing was confirmed by Mason’s brief memo to the company in which he jokingly stated he was let go: “I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today… the events of the last year and a half speak for themselves. As CEO, I am accountable.”

Chairman and co-founder Eric Lefkofsky and board member Ted Leonis will be interim CEOs. The article included a quote from a letter by the interim CEOs: “we all know our operational and financial performance has eroded the confidence of many of our supports, both inside and outside of the company. Now our task at hand to win back their support”.

Andrew Mason was a “quirky”, lighthearted CEO. His playful responses in interviews gave him as much presence as the company itself. However, with the company offering a service easily emulated by others, a “costly international expansion” and a “lost [of] three quarters of its value since its November 2011 initial public offering”, Groupon’s amazing reputation and performance faltered. The media response is that the firing is not a surprise and more of a relief for the company and investors.