Shares of Groupon Inc GRPN have struggled in the recent three months, down about 25 percent. The trend continues in Wednesday’s pre-market session, down nearly 4 percent. The stock closed at $6.03 at Tuesday’s close, and shares have declined down to $5.80 in the pre-market.
The tech company has stated that their chief financial officer, Jason Child, has stepped down just as it appoints a new chief operating officer, Rich Williams. Brian Kayman, currently vice president of treasury and tax, was announced
as interim chief financial officer.
Alongside the major management changes, Groupon announced a $200 million increase to its share buy-back plan that will continue through August of 2017.
Groupon has sunk nearly 29 percent year-to-date, while the S&P has increased north of 2 percent.
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