Andrew Mason will remain CEO of Groupon Inc (NYSE:GRPN), a company spokesman said on Thursday after the company's board met to debate the performance of the daily deal company's co-founder.
On Wednesday, Mason said directors would question his suitability as leader of a fledgling company that has lost almost four-fifths its market value since debuting in 2011. He said he was ready to fire himself, if that was what was decided at the regular Thursday meeting.
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Spokesman Paul Taaffe said after the meeting concluded that there had been no changes and Mason was staying on as CEO.
"The board and the management team are focused on the performance of the company and they are all working together with heads down to achieve Groupon's objectives," Taaffe said in an emailed statement without elaborating.