The move may create a bit more urgency in turning the company around it could also indicate that the firm is seeking a buyer. Senkypl, who joined Groupon’s board last year, is the co-founder and CEO of Pale Fire Capital, which is Groupon’s largest shareholder with a 22% stake. Deshpande will no longer be on the board but will act as an advisor during the transition. Kedar Deshpande has stepped down as CEO, and the board has appointed Dusan Senkypl as interim CEO. Groupon GRPN management continues to play musical chairs.
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