Groupon Inc. Co-chairman Ted Leonsis will jointly lead the Chicago-based daily deal giant while its board seeks a permanent replacement for Andrew Mason, whose departure from the CEO post was announced Thursday.
Leonsis and Executive Chairman Eric Lefkofsky will serve as co-CEOs of Groupon (NASDAQ: GRPN), a competitor of D.C.-based LivingSocial Inc.
"Groupon will continue to invest in growth, and we are confident that with our deep management team and market-leading position, the company is well positioned for the future," Leonsis said in a statement.
Mason, a pioneer of the now flailing daily deal business, leaves amid fresh financial difficulties for the company. Groupon released disappointing earnings this week, posting a net loss of $81 million in the fourth quarter.
© 2013 American City Business Journals, Inc.