Groupon's National Sales Chief Out
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.
Filed under: 24/7 Wall St. Wire, Internet, Management Change Tagged: GRPN