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Ted Leonsis to co-lead as interim Groupon chief

Thursday - 2/28/2013, 5:52pm  ET

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.