Also announces CFO Jason Child will step down; Announces increased
stock repurchase authorization
CHICAGO--(BUSINESS WIRE)--
Groupon today announced it has named Rich Williams as Chief Operating
Officer to oversee its global businesses and operations. Williams
currently serves as President of North America and will continue in that
capacity while adding responsibility for Groupon's international regions.
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Groupon today announced it has named Rich Williams as Chief Operating Officer to oversee its global businesses and operations. Williams currently serves as President of North America and will continue in that capacity while adding responsibility for Groupon's international regions. (Photo: Business Wire)
"Rich has been integral in steering our North American local business to
three consecutive quarters of double-digit growth and helping to lead
Groupon's transformation to a mobile commerce marketplace," said CEO
Eric Lefkofsky. "As North America continues to be the leading edge of
our tools, systems and processes, Rich is perfectly positioned to bring
that operational leverage to our international markets."
The leadership teams for EMEA, Rest of World and Global Operations will
report to Williams, in addition to his current team.
"Two of Groupon's biggest advantages are our connection to local
merchants and customers and our strong operational team around the
globe," said Williams. "I look forward to continuing the progress we've
made and bringing the advantages that have helped scale our North
American business to our global operations."
Williams joined Groupon in 2011, first serving as Groupon's Chief
Marketing Officer. Throughout his 20-year career, he has overseen some
of the largest online marketing programs in the world and the analytics
and technology that power them. Prior to joining Groupon, he held a
variety of marketing and leadership roles at Amazon and Experian.
Groupon also announced that Chief Financial Officer Jason Child will be
leaving the company at the end of July to relocate to the west coast.
"Jason has done a tremendous job of helping lead Groupon through one of
the most explosive periods of growth any company has ever experienced,"
Lefkofsky said. "We wish him the very best in his next venture."
Brian Kayman, VP of Tax and Treasury, will serve as interim CFO
effective immediately while the Board of Directors selects a permanent
replacement. Chief Accounting Officer Brian Stevens will continue to
oversee the company's accounting and financial reporting.
The company also announced its Board of Directors has approved a $200
million increase to its previously announced $300 million share
repurchase program. The additional authorization will commence
immediately and continue through August of 2017. Share repurchases are
subject to market conditions and other factors.
The company's guidance for the second quarter and full year 2015 remains
unchanged.
About Groupon
Groupon (NASDAQ: GRPN) is a global leader of local commerce and the
place you start when you want to buy just about anything, anytime,
anywhere. By leveraging the company's global relationships and scale,
Groupon offers consumers a vast marketplace of unbeatable deals all over
the world. Shoppers discover the best a city has to offer on the web or
on mobile with Groupon Local, enjoy vacations with Groupon Getaways, and
find a curated selection of electronics, fashion, home furnishings and
more with Groupon Goods.
Groupon is redefining how traditional small businesses attract, retain
and interact with customers by providing merchants with a suite of
products and services, including customizable deal campaigns, credit
card payment processing capabilities, and point-of-sale solutions that
help businesses grow and operate more effectively. To search for great
deals or subscribe to Groupon emails, visit www.Groupon.com.
To download Groupon's top-rated mobile apps, visit www.groupon.com/mobile.
To learn more about the company's merchant solutions and how to work
with Groupon, visit www.GrouponWorks.com.
Forward-Looking Statements
This announcement contains forward-looking statements that involve risks
and uncertainties, and actual results could differ materially from those
discussed. Factors that could cause or contribute to such differences
include, but are not limited 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.
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 Groupon nor any other person
assumes responsibility for the accuracy and completeness of the
forward-looking statements. Groupon undertakes no obligation to update
publicly any forward-looking statements for any reason after the date of
this press release to conform these statements to actual results or to
changes in our expectations.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150603005816/en/
Groupon
Public Relations:
Bill Roberts, 312-459-5191
billr@groupon.com
or
Investor
Relations:
Genny Konz, 312-999-3098
ir@groupon.com
Source: Groupon
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