On the move

Williams steps up to take over as Groupon CEO

Groupon, the daily deals website based in the United States, has announced a shake-up at the top. Chief Operating Officer Rich Williams has been promoted to CEO, succeeding Eric Lefkofsky. As the co-founder of Groupon, Lefkofsky will return to the role of chairman of the board. Williams was named COO in June, while Lefkofsky had served as permanent CEO of Groupon since August 2013. Groupon also announced that Ted Leonsis will step down as chairman, but will remain on the board as the lead independent director. The company reported lower-than-expected revenue in the third quarter, claiming that it was squeezed by sluggish sales in North America. Revenue in the third quarter topped $713.6 million, slightly lower than the $714.3 million generated a year earlier. Groupon said in September it would cut jobs and close down operations in seven countries after pulling out of Greece and Turkey.

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