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Friday, March 1, 2013

Groupon Fires CEO Andrew Mason

"After four and a half intense and wonderful years as CEO of Groupon, I've decided that I'd like to spend more time with my family. Just kidding - I was fired today." -Andrew Mason

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Twenty-four hours after reporting disappointing first-quarter earnings (a move that sent its stock down more than 25% in after-hours), Groupon announced Thursday afternoon that co-founder and CEO Andrew Mason will no longer hold the top post at the company.

Groupon Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis will assume leadership of the four-and-a-half-year-old daily deals business while its board of directors seeks out a new chief executive, according to a release issued by the company.

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