You may have noticed a certain frenzy around Groupon in recent days, as speculation swirled about the fate of the daily deals pioneer's chief executive, Andrew Mason. More specifically, that the company's board would discuss at a meeting on Thursday whether he should remain in his post.
Well, here's what happened at that regularly scheduled meeting: not much.
A Groupon spokesman, Paul Taaffe, told DealBook on Thursday afternoon that the board and the management team are “aligned.†For now, it appears, Mr. Mason isn't going anywhere.
He added: “The board and management are focused on the performance of the company, and they are all working with their heads down to achieve their objectives.â€
That doesn't mean that everything is well at Groupon, once lauded as one of the fastest-growing members of the new generation of Internet companies. Its shares have fallen 83 percent in the year and change that it has been publicly traded.
And questi ons still swirl about the long-term viability of the daily deals business. Groupon's closest competitor, LivingSocial, announced on Thursday that it would cut 400 jobs, or about 10 percent of its work force.
Mr. Mason seems to be aware of the depths of the problems he faces.
“When your stock is down 80 percent, your board is going to ask if you're doing the right things,†he said at Business Insider's Ignition conference on Wednesday.
But while he hopes to stay in his job, as a co-founder and a large shareholder of the company, he hinted that he would step aside if that step were deemed necessary.
“I want what's best for Groupon,†he said.
