Groupon CEO Andrew Mason Out

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Groupon announced yesterday that CEO Andrew Mason is leaving the company. Groupon said Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis have been appointed to the newly created Office of the Chief Executive, effective immediately, replacing Mason. Lefkofsky and Leonsis will serve in this role on an interim basis. The Board has begun a search for a new Chief Executive.

"On behalf of the entire Groupon Board, I want to thank Andrew for his leadership, his creativity and his deep loyalty to Groupon. As a founder, Andrew helped invent the daily deals space, leading Groupon to become one of the fastest growing companies in history," said Lefkofsky.

This announcement follows yesterday's underwhelming Q4 earnings report. 

AllThingsD reported that in a message to Groupon employees, Mason announced the move, which has been rumored for months. “After four and a half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family,” Mason wrote. “Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention.”

Read the full story — and the full memo — here.