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Groupon COO succeeds co-founder as CEO

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Published Wed, Nov 4, 2015 · 09:50 PM

New York

GROUPON Inc, the operator of daily deals website groupon.com, said co-founder Eric Lefkofsky was stepping down as chief executive and returning to the role of chairman, effective immediately.

The company also forecast current-quarter and 2016 revenue below analysts' expectations, sending its shares down 27 per cent in extended trading on Tuesday. Chief operating officer Rich Williams will succeed Mr Lefkofsky as CEO, Groupon said.

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