Groupon Board Names Rich Williams

at December 16th, 2015

Groupon Board Names Rich Williams CEO

Eric Lefkofsky assumes role as Chairman of the Board

CHICAGO–(BUSINESS WIRE)– Groupon, Inc. (NASDAQ: GRPN) announced today that its Board of Direc­tors has appointed Rich Williams as Chief Exec­u­tive Offi­cer and mem­ber of the Board of Direc­tors, effec­tive imme­di­ately. Williams suc­ceeds Eric Lefkof­sky, Groupon’s co-founder, who has been Groupon’s CEO since August 2013. Lefkof­sky will return to the role of Chair­man of the Board, also effec­tive immediately.

Groupon, Inc. announced today that its Board of Direc­tors has appointed Rich Williams as Chief Exec­u­tive Offi­cer and mem­ber of the Board of Direc­tors, effec­tive imme­di­ately. Williams suc­ceeds Eric Lefkof­sky, Groupon’s co-founder, who has been Groupon’s CEO since August 2013. Lefkof­sky will return to the role of Chair­man of the Board, also effec­tive immediately.

“Rich is the right and nat­ural choice for Groupon’s future, and he has the unan­i­mous sup­port of the Board of Direc­tors. We are fully con­fi­dent we have iden­ti­fied the best leader for our employ­ees, cus­tomers, part­ners and share­hold­ers,” said Ted Leon­sis, out­go­ing Chair­man of the Board and newly appointed Lead Inde­pen­dent Direc­tor. “Over the last two years, Eric has worked tire­lessly for the com­pany and the busi­ness is much stronger today because of it.”

“I am hon­ored to be lead­ing the com­pany as Groupon evolves into a daily habit in our cus­tomers’ lives,” saidRich Williams. “Under Eric, we made sig­nif­i­cant strides in estab­lish­ing our mar­ket­place. That work will con­tinue with a greater focus than ever. As CEO, my top pri­or­ity is to unlock the long-term growth poten­tial in the busi­ness by demon­strat­ing every­thing the new Groupon has to offer. We have a great team here and I look for­ward to the oppor­tu­ni­ties ahead of us.”

Dur­ing Lefkofsky’s tenure rev­enue grew 32 per­cent from $2.3 bil­lion in 2012 to $3.1 bil­lion in 2015 on a trailing-12-month basis, while adjustedEBITDA and Free Cash Flow stabilized.

“Crack­ing the code in local com­merce is not easy. We’ve come a long way in build­ing a lead­ing local com­merce mar­ket­place in the last two years,” said Lefkof­sky. “With his deep expe­ri­ence in e-commerce — both in and out­side of Groupon — and exper­tise in mar­ket­ing, oper­a­tions and tech­nol­ogy, Rich was the obvi­ous choice to lead Groupon.”

Williams was appointed Chief Oper­at­ing Offi­cer in June 2015. Prior to the COO role, Williams was Pres­i­dent ofNorth Amer­ica since 2014, where he worked to solid­ify Groupon’s play­book in the United States dur­ing a crit­i­cal part of the company’s tran­si­tion to a full mobile local com­merce mar­ket­place. In this role, he helped steer North Amer­ica to five con­sec­u­tive quar­ters of double-digit growth. He joined the com­pany in June 2011as Senior Vice Pres­i­dent of Mar­ket­ing with nearly 20 years of experience.

“I’m assum­ing the CEO role with three imme­di­ate pri­or­i­ties,” Williams said. “First, we will renew our invest­ment in cus­tomer acqui­si­tion to intro­duce more new cus­tomers to our mar­ket­place and accel­er­ate growth. Sec­ond, we will increase our focus on stream­lin­ing our inter­na­tional oper­a­tions to ensure we are oper­at­ing as lean and effi­ciently as pos­si­ble. Finally, we will shift our Shop­ping cat­e­gory away from lower mar­gin ‘empty calo­rie’ prod­ucts to grow a sus­tain­able, healthy Goods busi­ness with stronger margins.”

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