Here's another sign, if one was needed, that Groupon is coming unhinged when it can least afford it: The company's COO, Margo Georgiadis, has jumped ship after just five short months for her old employer, Google.
Georgiadis, who was poached from her position as a VP at Google, said in an all-company email:
"Groupon is a great company and I feel privileged to have worked there even for a short time. It was a hard decision to leave as the company is on a terrific path. I have complete confidence in the team's ability to realize its mission."
Here's the whole email from Groupon CEO Andrew Mason:
As a fast-growing company, we've done a lot of hiring this year,
including on our senior executive team. Since the beginning of 2011,
we've made a total of 8 additions - that's 57% of the total executive
team. It would have been great if I could say that we batted 1,000%,
but in one instance, it looks like we didn't find a fit; after five
months at Groupon, Margo Georgiadis, our COO, has decided to return to
Google (her former employer) in a new role as President, Americas.
We're disappointed that we were unable to make it work with Margo, but
hiring isn't easy, and we support moving quickly when there isn't a
match. It's the best way to do business.
On the bright side, we've built a fantastic team that has proven
itself highly capable, so this change won't have an impact on
operations. In fact, we are using it as an opportunity to reorganize
in a way that reflects our evolving strategic priorities.
Specifically, here are the changes we'll be making:
* Marketing, under Rich Williams, will report into me
* Business Channels, under Aaron Cooper, will report into me
* NOW, under Dan Roarty, as a business channel, will report into Aaron Cooper
* National Sales, under Lee Brown, will report into U.S. Sales under Chris Muhr
* US Operations, under Hoyoung Pak, will report into me
Here's a note from Margo: "Groupon is a great company and I feel
privileged to have worked there even for a short time. It was a hard
decision to leave as the company is on a terrific path. I have
complete confidence in the team's ability to realize its mission."