Groupon Appoints Investment Group Co-Founder Dusan Senkypl as Interim CEO

Groupon has appointed Dusan Senkypl as interim CEO to lead the company’s transformation strategy.

Senkypl is a co-founder of private equity investment group Pale Fire Capital and a member of the Groupon board of directors. Effective immediately, he succeeds Kedar Deshpande, who has stepped down as CEO and director and will serve as an advisor for 60 days during the transition, Groupon said in a Friday (March 31) press release.

As interim CEO, Senkypl will implement and refine Groupon’s previously announced supply-led transformation strategy, Ted Leonsis, chairman of the Groupon board of directors, said in the release.

“Dusan is a proven leader and operator, and his experiences leading transformations, building successful internet products and helping grow a marketplace similar to Groupon uniquely position him to step in as our interim CEO at this critical time,” Leonsis said. “Since he joined the board, Dusan has been very engaged as a director, providing important oversight on Groupon’s strategy and strengths and helping the company identify areas in need of improvement.”

Groupon said in August that it aimed to lower its annual expenses by $150 million and execute a turnaround strategy.

The news followed a quarter in which the local marketplace platform’s revenue was down 42% year over year.

“Our overall business performance is not at the levels we anticipated and we are taking decisive actions to improve our trajectory,” Deshpande said Aug. 8.

Three months later, in November, Groupon reported it had made progress on the turnaround strategy and was well on its way to reducing its cost structure.

“At the same time, we are moving quickly to test initiatives focused on improving the customer experience and inventory density,” Deshpande said Nov. 7.

In January, the firm said it was eliminating 500 jobs globally as it continued with its restructuring plans.

In Friday’s press release, Senkypl said that Groupon has the assets it needs for its transformation and that it can now focus on operational excellence and making bolder decisions more quickly.

“From my perspective, Groupon has a clear target environment where the business can compete and win,” Senkypl said. “Our vision is to become the ultimate destination for local services and experiences, a marketplace where trust and value are core to our consumer and merchant value propositions.”

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