Groupon Announces CEO Transition - Seite 2

Mr. Senkypl added, “After the January restructuring announcement and with the recent amendment to our credit facility, the company has a solid financial foundation to support our transformation this year. From my perspective, Groupon has a clear target environment where the business can compete and win. Our vision is to become the ultimate destination for local services and experiences, a marketplace where trust and value are core to our consumer and merchant value propositions. We operate in a large and attractive market and Groupon is uniquely positioned to extend its market leadership. I believe that we have the right assets in place to transform, but we need to do a much better job of incorporating operational excellence into everything we do. We are taking steps to ensure that we have the strong management team and operating systems in place to empower Groupon to make bolder decisions more quickly and ensure that our global team has the utmost clarity on our initiatives and goals. As we improve our execution by following a comprehensive transformation plan, I believe we can increase the value we deliver to our customers and merchant partners, and return the company to growth. I look forward to working closely with the Board and the talented team at Groupon to delight customers, help hard working merchant-partners grow their businesses and build an enduring brand and category leader.”

“It has been a tremendous honor to serve as the CEO of Groupon and I am proud of the goals our team has accomplished together, including a significant reduction of our fixed cost structure. I look forward to watching the company continue to transform into the ultimate destination for local services and experiences under Dusan’s leadership,” said Kedar Deshpande.

About Dusan Senkypl

Dusan Senkypl is joining Groupon from Pale Fire Capital, Groupon’s largest shareholder that holds nearly 22% of shares outstanding. Pale Fire is an entrepreneurial investment firm with ~$1 billion in AUM and two established investment strategies in technology private equity and global macro hedge fund. Its private equity portfolio includes ~30 B2C and marketplace companies. Dusan co-founded Pale Fire Capital in 2015 and serves as Chairman and CEO. In conjunction with his appointment to Groupon CEO, Dusan will be stepping down from day-to-day responsibilities at Pale Fire Capital.