NEW YORK (AP) — Struggling online deals pioneer Groupon has fired its quirky founder and CEO, Andrew Mason, amid worries that people are tiring of the restaurant, spa and Botox deals that Groupon built its business on.
In a refreshingly candid memo to staff, Mason admitted he "failed at this part of the journey" and said Groupon's employees "deserve the outside world to give you a second chance. I'm getting in the way of that. A fresh CEO earns you that chance."
Groupon Inc.'s stock jumped more than 4 percent in extended trading following Thursday's announcement, which had been anticipated for months. Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis were appointed to the Office of the Chief Executive while a replacement is found.
Mason, known for an eccentric character that didn't fit the mold of a buttoned-down CEO, made no qualms about what had happened.
"I've decided that I'd like to spend more time with my family. Just kidding — I was fired today," wrote Mason, 32. "If you're wondering why. you haven't been paying attention."