LivingSocial CEO O’Shaughnessy Resigns

LivingSocial CEO Tim O’Shaughnessy reportedly is stepping down as head of the daily-deals company.

O’Shaughnessy notified LivingSocial staff about his eventual departure on Jan. 10, the Washington Business Journal reported. According to spokesperson Sara Parker, O’Shaughnessy will continue serving as chief executive until a replacement is found.

”I recently informed our board of directors that I will be stepping down as CEO of LivingSocial later this year. We will start a search for a new CEO today and hope to fill the position in the first half of 2014 with a new CEO who can lead the company on the next stage of its adventure. I will remain as CEO through this period,” O’Shaughnessy wrote in a company-wide email.

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