Groupon in No Rush to Replace Mason, CFO Says

By Cameron Scott 

deals, daily deals, ecommerce, groupon, social commerceGroupon feels no urgency to replace founder and fired CEO Andrew Mason and will continue to execute the business plans put in place before his departure, chief financial officer Jason Child said at an investor meeting hosted by Deutschebank.

“We’re in really good position to not miss a beat as we execute against the plan for 2013. In the meantime we’ll be looking for the right long-term replacement [for Mason], but we’ll take our time to find the right fit,” Child said.

Child said the company will improve performance by streamlining the way it sells and publishes deals in Europe and by encouraging merchants to run deals for six months to a year, rather than the “one and done” deals that first put Groupon on the map.

Groupon, unlike companies that rely on advertising revenue, could benefit as more users access its marketplace through mobile devices.

“Engagement of mobile users is at least 50 percent better than Web-only consumers,” Child said.

In the United States, 40 percent of Groupon’s visits come from mobile, he said.