Groupon in No Rush to Replace Mason, CFO Says

deals, daily deals, ecommerce, groupon, social commerceGroupon feels no urgency to replace founder and fired CEO Andrew Mason and will continue to execute the business plans put in place before his departure, chief financial officer Jason Child said at an investor meeting hosted by Deutschebank.

“We’re in really good position to not miss a beat as we execute against the plan for 2013. In the meantime we’ll be looking for the right long-term replacement [for Mason], but we’ll take our time to find the right fit,” Child said.

Child said the company will improve performance by streamlining the way it sells and publishes deals in Europe and by encouraging merchants to run deals for six months to a year, rather than the “one and done” deals that first put Groupon on the map.

Groupon, unlike companies that rely on advertising revenue, could benefit as more users access its marketplace through mobile devices.

“Engagement of mobile users is at least 50 percent better than Web-only consumers,” Child said.

In the United States, 40 percent of Groupon’s visits come from mobile, he said.

Related Stories
Mediabistro Course

Instagram Marketing

Instagram MarketingStarting October 27, learn how to gain likes and followers on one of the most popular social media platforms! In this course, you'll learn how to develop an Instagram strategy that will make your profile stand out and gain new followers, tell a brand story through photos, and use your Instagram profile to drive your sales and business objectives. Register now!