Groupon’s board of directors voted to replace its cofounder and CEO Eric Lefkofsky with Rich Williams, the company’s ruling COO, the deal site announced during its earnings Tuesday.
In an interview with Re/Code, Lefkofsky said he had been talking to them about handing over the job, and Williams emerged as the successor in the past six to 12 months.
The Groupon cofounder took over as CEO in 2013 after the board fired another cofounder, Andrew Mason, from the role.
Lefkofsky will return to his role as Chairman of the Board.
Despite Groupon’s struggles, revenue grew 32 per cent during Lefkofsky’s tenure, according to the company’s statement.
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