After just a year as the head of Groupon’s Goods division, Faisal Masud is leaving the company to lead global e-commerce at office supply retailer Staples.
Kal Raman, Groupon’s COO, will manage the role for the time being, a spokesperson told SocialTimes.
Masud’s departure adds to subtle signals coming out of Groupon on the wake of founder and CEO Andrew Mason’s March departure. Under Mason, the company seemed to be investing in Goods, a discounted electronics platform, as a means of recovering from the failure of the daily deals model that first defined the company. Goods accounted for $2 billion of the company’s $5.4 billion in revenue in 2012.
The e-commerce-focused executive role Masud will occupy is a new one for Staples.
Update 5/8/13: A Groupon spokesman responded to our post, calling it “hogwash”: “The departure of Faisal Masud from Groupon Goods does not indicate ‘That Groupon is Dumping Goods.’ … After a successful 4th quarter in 2012 Groupon Goods is on a $2 billion run rate. This is after only 5 quarters since it’s inception in 2011.”