Groupon COO jumps ship after 5 months

Reuters News
Posted: Sep 23, 2011 5:58 PM
Groupon COO jumps ship after 5 months

SAN FRANCISCO (Reuters) - Groupon's chief operating officer is leaving to join Google Inc five months after joining the company, and ahead of a highly-anticipated initial public offering.

Groupon said on its official blog on Friday that Margo Georgiadis was leaving the daily deals company to take a job as President of Google's Americas business.

"This change won't have an impact on operations," Groupon Chief Executive Officer Andrew Mason wrote in the blog posting.

He said that Groupon would reorganize its management structure in a way that reflects the company's evolving strategic priorities, with the Sales, Marketing, Channels and International divisions now reporting directly to Mason.

The news comes as Groupon is preparing to float shares to the public in a $750 million IPO.

Leaving the Left
John Stossel

Earlier this month, sources told Reuters that Groupon had put the IPO on hold for at least a few weeks, hoping to ride out global market turmoil while dealing with some regulatory scrutiny.

(Reporting by Alexei Oreskovic and Alistair Barr; editing by Carol Bishopric)