September 25, 2011
Groupon COO Headed To Google
For the second time in less than a year, Groupon is searching for a new Chief Operating Officer, as the company announced Friday that Margo Georgiadis was leaving the company after just five months on the job.
According to Reuters reports, Georgiadis has accepted a position with Google as the president of its Americas division. Her departure comes following the March resignation of then-COO Rob Solomon, and just before the company's highly-anticipated $750 million initial public offering, the wire service added.
Groupon Chief Executive Andrew Mason confirmed the news in a September 23 blog entry.
"We've built a fantastic team that has proven itself highly capable, so this change won´t have an impact on operations," Mason wrote. "In fact, we are using it as an opportunity to reorganize in a way that reflects our evolving strategic priorities. Sales, Channels, International, and Marketing will now report directly to me."
He also posted a note from Georgiadis, in which the outgoing COO said, "Groupon is a great company and I feel privileged to have worked there even for a short time. It was a hard decision to leave as the company is on a terrific path. I have complete confidence in the team´s ability to realize its mission."
Groupon spokeswoman Julie Mossler told Wong that the online-based daily deals company would have no further comment on Georgiadis' resignation.
During the first six months of this year, Groupon reported gross billings (money collected from customers for coupons provide) as $1.6 billion, and revenue (income minute the amount shared with companies that do business with them) of $688 million, according to Reuters.
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