Groupon (NASDAQ:GRPN) has announced that Rich Williams is the new CEO.
The company’s new boss is replacing cofounder Eric Lefkofsky — who will serve as the new chairman — for the position. Here are five things to know about the new Groupon CEO:
- Williams was named the new COO of Groupon back in June.
- He is the former head of marketing for the company.
- The new Groupon CEO made his name working with Amazon‘s (NASDAQ:AMZN) marketing and advertising team.
- ”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,” said Williams.
- He added that he plans to increase investment in marketing and turn the company’s attention on the sale of physical goods with higher profit margins.
GRPN stock is down 27.3% Wednesday. AMZN stock is up 2.95%.
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