NEW YORK (AP) — Groupon rose nearly 3 percent in premarket trading Friday, a day after CEO Andrew Mason was fired.
The departure follows another disappointing quarter with new concerns that customers have tired of the restaurant, spa and Botox deals that Groupon built its business on.
Mason said in a candid memo to workers that he "failed at this part of the journey" and said the company's employees "deserve the outside world to give you a second chance. I'm getting in the way of that. A fresh CEO earns you that chance."
Groupon Inc. appointed Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis to the Office of the Chief Executive while a replacement for Mason is found.
Shares added 13 cents, or 2.9 percent, to $4.66 before the market open.