- Push-out Score determined
- After about four and a half years in the position
- Thanks for Williams
- Aaron Cooper taking over in the interim
- Search for a successor
(exechange) — Chicago, Illinois, March 25, 2020 — Rich Williams, chief executive of Groupon, leaves. As announced by Groupon Inc. in a news release and in a regulatory filing published on Wednesday, March 25, 2020, Rich Williams leaves his post as chief executive officer at the e-commerce marketplace after about four and a half years in the role, effective immediately.
Groupon will undertake a search for a successor.
Rich Williams’s duties as CEO will be taken over in the interim by Aaron Cooper, most recently President of North America of Groupon Inc., as interim Chief Executive Officer.
Rich Williams’s move forms part of a management shake-up also involving the position of Chief Operating Officer.
“Disruption created by the global pandemic”
The management change is explained as follows. Cooper said: “The disruption created by the global pandemic, however, is significant, and our immediate goal is to help millions of Groupon merchants, customers and employees navigate the massive challenges they face.”
Precise information regarding Rich Williams’s future plans was not immediately available.
“Is no longer serving”
Groupon said: “Rich Williams is no longer serving as CEO.”
Groupon further said: “Mr. Cooper replaces Rich Williams, who is no longer serving as the Company’s Chief Executive Officer or member of the Board as of the Effective Date.”
Share price decline
The announcement follows a decline in Groupon Inc.’s share price of 71% since November 2015.
Chaired by Eric Lefkofsky
Groupon Inc. is chaired by Eric Lefkofsky.
Eric Lefkofsky is a co-founder of the Company, served as the Company’s Executive Chairman from its inception through August 5, 2013, served in the Office of the Chief Executive from February 28, 2013 until August 5, 2013, served as the Company’s Chief Executive Officer from August 5, 2013 until November 3, 2015, and has served as Chairman since November 3, 2015.
In the position of CEO since 2015
Rich Williams became CEO of the Company in 2015.
Rich Williams has served as the Company’s Chief Executive Officer and a member of the Company’s Board of Directors since November 2015.
Prior to this role, Williams served as the Company’s Chief Operating Officer since June 2015 and President of North America since October 2014.
He joined the Company in June 2011 as Senior Vice President of Marketing. Prior to joining Groupon, Williams served in a variety of marketing leadership roles at Amazon.com, Inc. (NASDAQ: AMZN) from January 2008 to June 2011, most recently as the Director, Paid Traffic leading global advertising.
Prior to joining Amazon, he spent nearly seven years in sales and marketing leadership roles at Experian plc (LSE: EXPN), a global information services company.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
Read the full story in the exechange report 13.2020 ($).