Yet Another Chance to Disappoint: Groupon Said to Be Mulling New CEO
Andrew Mason, the young fellow running the place, has seemed overwhelmed by the task at hand. And now, the Wall Street Journal reports, the board is considering a search for a new CEO. At YCharts, we’ve wondered for some time about the wisdom of placing such an operations-intensive company in the hands of a neophyte.
So, the Journal story could be good news for investors, at least those willing to hang around for a very long time and see if the original Groupon business model has legs. If the board fails to act, watch out below.
But while the board’s looking for new talent, if it is, it might also look at itself. The Groupon board is notably lacking in members with strong operating experience. Groupon, with thousands of workers and a big telephone sales operation, isn’t some magic tech company that can thrive on the brilliance of the idea. It needs discipline and rigor, and some directors who knew that stuff when they see it.
Jeff Bailey is the editor of YCharts, which includes the just-released YCharts Pro Platinum for professional investors.