A CEO gets fired: Honesty above all.

The CEO of Groupon got fired today. Instead of a whine or arguments, he chose to send a message to the staff, and in all truth, i find his honesty and no BS attitude….refreshing.

No gilding the lily, no excuses, “the buck stopped with me”. He took it on the chin.

I admire his guts.

People of Groupon,

After four and a half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention. From controversial metrics in our S1 to our material weakness to two quarters of missing our own expectations and a stock price that’s hovering around one quarter of our listing price, the events of the last year and a half speak for themselves. As CEO, I am accountable.

You are doing amazing things at Groupon, and you deserve the outside world to give you a second chance. I’m getting in the way of that. A fresh CEO earns you that chance. The board is aligned behind the strategy we’ve shared over the last few months, and I’ve never seen you working together more effectively as a global company – it’s time to give Groupon a relief valve from the public noise.

For those who are concerned about me, please don’t be – I love Groupon, and I’m terribly proud of what we’ve created. I’m OK with having failed at this part of the journey. If Groupon was Battletoads, it would be like I made it all the way to the Terra Tubes without dying on my first ever play through. I am so lucky to have had the opportunity to take the company this far with all of you. I’ll now take some time to decompress (FYI I’m looking for a good fat camp to lose my Groupon 40, if anyone has a suggestion), and then maybe I’ll figure out how to channel this experience into something productive.

If there’s one piece of wisdom that this simple pilgrim would like to impart upon you: have the courage to start with the customer. My biggest regrets are the moments that I let a lack of data override my intuition on what’s best for our customers. This leadership change gives you some breathing room to break bad habits and deliver sustainable customer happiness – don’t waste the opportunity!

I will miss you terribly.

Love,

Andrew

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Orion
Orion
February 28, 2013 20:18

This guy surely does NOT fit in with any other executive I’ve worked with or for.

Orion

LC Sir Rurik, K.o.E.
LC Sir Rurik, K.o.E.
February 28, 2013 21:23

There’s one word for Andrew – He’s a mensch. :em01:

He deserves another chance somewhere else, even more than the company.

redc1c4
redc1c4
February 28, 2013 22:39

before we all start taking long walks together, swapping spit, etc, i’d just like to point out that it was under his watch that Groupon decided to not carry offers for firearms related businesses.

F him and i hope he never finds another j*b, other than cleaning the floors at the homeless shelter with his tongue.

Igor, Imperial Booby
Igor, Imperial Booby
February 28, 2013 23:03

Ce’st la Vie, redc1c4, he’s gone and now you can petition Groupon to change their ways. Me? Meh. :em04:

LC Xystus
LC Xystus
March 1, 2013 02:26

Battletoads??? :em03:

LC Getalis, Imperial Czar of Pharmacology
LC Getalis, Imperial Czar of Pharmacology
March 1, 2013 03:30

Battletoads!!! :em01:

dcs2244
dcs2244
March 1, 2013 05:14

Note to citizen CEO: more “Groupon”, less “Battletoads” equals success. Just a thought… :em03:

LC Draco
LC Draco
March 1, 2013 13:20

His separation package was $362 or something like that!! But he still has millions in stocks!!

LC Draco
LC Draco
March 2, 2013 20:45

LCBrendan @ #:

True…and MY goal is to join the One Dollar Club!!!

LC Sir Clambake, Imperial Black Ops Technician, K.o.E.
LC Sir Clambake, Imperial Black Ops Technician, K.o.E.
March 3, 2013 11:33

Orion says:

This guy surely does NOT fit in with any other executive I’ve worked with or for.

Orion

Nope, most just ride it out until they get caught, or bail before they get caught.