Board Appoints Eric Lefkofsky and Ted Leonsis to the Office of the
Chief Executive
Board Initiates Search for New CEO
CHICAGO--(BUSINESS WIRE)--
Groupon (NASDAQ: GRPN), the global leader in local commerce, today
announced a leadership change in which Executive Chairman Eric Lefkofsky
and Vice Chairman Ted Leonsis have been appointed to the newly created
Office of the Chief Executive, effective immediately, replacing Andrew
Mason. Lefkofsky and Leonsis will serve in this role on an interim
basis. The Board has commenced a search for a new Chief Executive.
"On behalf of the entire Groupon Board, I want to thank Andrew for his
leadership, his creativity and his deep loyalty to Groupon. As a
founder, Andrew helped invent the daily deals space, leading Groupon to
become one of the fastest growing companies in history," said Lefkofsky.
"Groupon will continue to invest in growth, and we are confident that
with our deep management team and market-leading position, the company
is well positioned for the future," said Leonsis.
The company's guidance for first quarter and full year 2013 outlined in
yesterday's earnings announcement remains unchanged.
About Groupon:
Groupon (NASDAQ: GRPN) is a global leader in local commerce, making it
easy for people around the world to search and discover great businesses
at unbeatable prices. Groupon is reinventing the traditional small
business world by providing merchants with a suite of products and
services, including customizable deal campaigns, credit card payments
processing capabilities and point-of-sale solutions to help them attract
more customers and run their operations more effectively. By leveraging
the company's global relationships and scale, Groupon offers consumers
incredible deals on the best stuff to eat, see, do, and buy in 48
countries. With Groupon, shoppers discover the best a city has to offer
with Groupon Local, enjoy vacations with Groupon Getaways, and find a
curated selection of electronics, fashion, home furnishings and more
with Groupon Goods. To subscribe to Groupon emails, visit http://www.groupon.com.
To learn more about the company's merchant solutions and how to work
with Groupon, visit http://www.GrouponWorks.com.
Forward Looking Statements
The statements contained in this release that refer to plans and
expectations for the next quarter or the future are forward- looking
statements that involve a number of risks and uncertainties, and actual
results could differ materially from those discussed. The risks and
uncertainties that could cause our results to differ materially from
those included in the forward-looking statements include, but are not
limited to, volatility in our revenue and operating results; risks
related to our business strategy; responding to changes in the market;
effectively dealing with challenges arising from our international
operations; retaining existing customers and adding new customers;
retaining existing merchant partners and adding new merchant partners;
incurring expenses as we expand our business; competing against smaller
competitors and competitors with more financial resources than us;
maintaining favorable terms with our business partners; maintaining a
strong brand; managing inventory and order fulfillment; integrating our
technology platforms; managing refund risks; retaining our executive
team; litigation; regulations, including the CARD Act and regulation of
the Internet; tax liabilities; tax legislation; maintaining our
information technology infrastructure; security breaches; protecting our
intellectual property; handling acquisitions, joint ventures and
strategic investments effectively; seasonality; payment-related risks;
customer and merchant partner fraud; global economic uncertainty;
compliance with rules and regulations associated with being a public
company; and our ability to raise capital if necessary. We urge you to
refer to the factors included under the headings ''Risk Factors'' and
''Management's Discussion and Analysis of Financial Condition and
Results of Operations'' in the company's Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q, copies of which may be
obtained by visiting the company's Investor Relations web site at http://investor.groupon.com
or the SEC's web site at www.sec.gov.
Groupon's actual results could differ materially from those predicted or
implied and reported results should not be considered an indication of
future performance.
You should not rely upon forward-looking statements as predictions of
future events. Although Groupon believes that the expectations reflected
in the forward-looking statements are reasonable, it cannot guarantee
that the future results, levels of activity, performance or events and
circumstances reflected in the forward-looking statements will be
achieved or occur. Moreover, neither the company nor any other person
assumes responsibility for the accuracy and completeness of the
forward-looking statements. The forward-looking statements reflect
Groupon's expectations as of February 27, 2013. Groupon undertakes no
obligation to update publicly any forward-looking statements for any
reason after the date of this presentation to conform these statements
to actual results or to changes in its expectations.
Media Inquiries
Groupon
Paul Taaffe
(312) 999-3964
or
Sard
Verbinnen & Co
Charles Sipkins/Cassandra Bujarski
(310)
201-2040
or
Investor Inquiries
Genny Konz
(312)
267-4061
Source: Groupon
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