Groupon Inc (NASDAQ:GRPN) recently announced that its Chief Financial Officer is planning to hand over his position in a few weeks.
Jason Child, the current CFO said that he will retire from his position in July and leave the company to settle in the West Coast. The company’s current Vice President of the Treasury and Tax division, Brian Kayman will temporarily take over Child’s position before the company decides on a permanent replacement.
Groupon already has eyes on Richard eyes on Rich Williams. Williams is the president of the company’s North American division. He joined the firm in 2012 where he worked as Groupon’s Chief Marketing Officer. Before joining Groupon, he worked for the likes of Amazon.com, Inc. (NASDAQ:AMZN).
Groupon also claimed that it will add another $200 million to boost its $300 million share buyback project. Its projections for the second quarter and the whole year in general will remain the same. The company’s COO position has been empty since August 2014 after Kal Raman let the position to handle the firm’s Asia-Pacific division. However, just three months after his shift, Raman left Groupon to head a Texas real estate and technology firm called Solution star.
A senior analyst at Brean Capital by the name Tom Forte claimed that his company had a purchase rating and projected share price of $11 on Groupon. In his statement, Forte added that the share market has not given Groupon the rate that it is worth. Forte also claimed that the firm’s current stock price is not in line with the success that the company has been enjoying especially with the ongoing business restructuring measures.
The analyst also commended the Child for the effort and skills that he has offered the company since he joined Groupon Inc (NASDAQ:GRPN). Forte said that he was not troubled by Child’s resignation. He believes that William’s promotion will bring in some positive changes to the firm as well as the stock performance. In any case, the firm has been performing well and is expected to remain on that path.
