Groupon C-Suite Shakeup With Both CEO and COO Stepping Down
Groupon Inc. announced that its chief executive, Rich Williams, and chief operating officer, Steve Krenzer, are stepping down from their roles. The company said that both Williams and Krenzer will remain employed by the company, but didn’t specify in what capacity.
Aaron Cooper, Groupon’s president of North America, will take the lead as interim CEO while the company searches for a permanent CEO. Cooper has held multiple senior leadership positions during his 10-year tenure at Groupon, including serving as the company’s first chief marketing officer and running the travel and goods businesses before assuming his current role.
“The entire Board of Directors is grateful to Rich and Steve for their service,” Groupon chairman Eric Lefkofsky said in a statement. “Aaron headed our North America business and is well-positioned to take on the CEO role at Groupon, as we conduct a full process to install a permanent successor. We have a deep bench of senior talent and the team is intensely focused on executing against our strategy during this unprecedented moment in time.”
The executive changes come as the Chicago-based online discount provider struggles with sluggish sales, a situation worsened by the coronavirus pandemic. Groupon provides consumers with discounts to local businesses, activities and travel destinations, all of which have come to a grinding halt amid the virus outbreak.
“The disruption created by the global pandemic, however, is significant, and our immediate goal is to help millions of Groupon merchants, customers and employees navigate the massive challenges they face. We have a strong team in place that is in constant communication with our community, working on opportunities to support them in new ways during these uncertain times, even as we continue to focus on strengthening Groupon’s leadership position,” Cooper said in a statement.