Groupon Shares Sink Amid Management Change, Buyback Increase
Shares of Groupon Inc (NASDAQ: GRPN) sank more than 4 percent in Wednesday’s pre-market session.
The tech company on Wednesday morning announced that its 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 CFO.
Alongside the management changes, Groupon announced a $200 million increase to its share buyback plan that will continue through August 2017.
Shares of Groupon closed Tuesday at $6.03 and were down about 4.6 percent at $5.75 in the pre-market session. Shares have dropped 27 percent year-to-date.
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Posted-In: Brian Kayman Jason Child Rich WilliamsNews Buybacks Management
