- Groupon, Inc's (NASDAQ:GRPN) shares are trading higher on Friday after announcing its CEO transition.
- The company named Dusan Senkypl, co-founder of Pale Fire Capital and a member of the Board, to the role of interim CEO, effective immediately.
- Pale Fire Capital is Groupon's largest shareholder, holding nearly 22% of outstanding shares.
- In June 2022, Groupon entered into a cooperation agreement with Pale Fire, Dusan Senkypl, and Jan Barta. Under the cooperation agreement, Groupon's Board appointed Senkypl as a new director.
- Senkypl succeeds Kedar Deshpande, who has stepped down as CEO and Director of Groupon. Deshpande joined GRPN in December 2021, replacing interim CEO Aaron Cooper.
- In March 2020, Groupon stated that Rich Williams was no longer serving as CEO and named Aaron Cooper to the interim role.
- In March, Groupon reported a fourth-quarter revenue decline of 34% year-on-year to $148.2 million, missing the consensus of $161.6 million.
- Adjusted EPS loss of $(0.38) beat the consensus loss of $(0.40).
- The stock lost 54% YTD versus the broader index SPDR S&P 500 (NYSE:SPY), which gained 7%.
- Price Action: GRPN shares traded higher by 21.7% at $4.10 on the last check Friday.
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