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You need someone coming in clean house alright Andrew Mason is out to Groupon and his severance is not about today's CEOs -- -- positive effect.
Indeed -- body Joshi has the -- -- -- on its.
How many things to talk about icons of the story because this one is a good -- I I agree with Lori this is probably the most interesting and colorful -- any way any text CEO says certainly resign in my recent memory.
I -- -- controversial Andrew Mason and even a way to he resigned his controversial.
Putting out -- -- -- employee letter I was fired today if you're wondering why you haven't been paying attention but one thing that isn't controversial about him.
-- the amount of money that he's going to be leaving Groupon with it's actually quite small when you compare some of that.
Most recent things that we seen from ousted CEOs in fact he's going to leave.
Waist -- hundreds if not thousands of dollars he's entitled to just 4344.
Dollars in total compensation according to -- recent SEC filing.
That is -- based on the fact that he earned just 700 -- six point 72 dollars and 2000.
An eleven he took a salary cut from a 180000.
But no -- -- no matter because Woodstock happened to it compensation he owns about 7% of outstanding shares and he is worth more than 208 million dollars.
Groupon shares have been under pressure basically since day one down -- 5% since IPO.
Whole host of issues with Ian -- with Andrew Mason -- -- pressing up to it in this and I employee letter.
Saying that from controversial metrics in our ask one to our material weakness to two quarters of missing our own expectations in a stock price -- hovering around one quarter of our listing price.
The events of last year and a half speak for themselves.
As CEO I am accountable saying he's funny but he's also Panama and I think this is something that everybody's been talking -- finally seeing materialize.
Writing on the wall as they say -- -- the street reacting to the news about well obviously -- -- -- -- reacting positive lead this stock and that today but in but keep in mind this is only part of the problem the stock fell about 20% at the day after the company's earnings release.
So this is only a partial solution in overall -- -- seeing today actually is just the analyst community do weighing in on the viability of these Groupon.
Type companies as act a whole class we're talking about Amazon which has a similar.
Sorted deal and group line.
Google living so -- questions about it's it's a hot industry but will this industry survived what will it morphed into.
Groupon is CEO which is sort of the latest casualty in the question marks surrounding Iran viability of this business model.
Shibani Joshi thank you so much -- says something.
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