The senior vice-president of national sales for Groupon Inc. (NASDAQ: GRPN), Lee Brown, left the company yesterday, according to an exclusive report from Reuters that was later confirmed by Groupon’s senior VP of sales. Brown joined the company less than two years ago from Yahoo! Inc. (NASDAQ: YHOO).
Groupon’s sales chief, Kal Raman, notified employees by a memo that eventually made its way to Reuters. Raman praised Brown:
Under Lee’s management, the team has secured a number of key customers, and I’d like to personally thank Lee for his contributions and wish him the best in his next opportunity.
Raman, himself a recent hire at Groupon, is thought to be cleaning house at Groupon’s sales organization according to a report at AllThingsD. And the fact that Groupon’s share price has fallen by 75% since the company’s IPO does indicate that the company could stand to make some changes. Brown’s replacement is Raj Ruparell, who has been with Groupon for four months.
Groupon’s shares are inactive in the premarket this morning, and closed at $4.51 yesterday, in a 52-week range of $4.34 to $31.14.
Paul Ausick
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
