Groupon Inc (NASDAQ:GRPN) reported that Steve Krenzer will join the firm as Chief Operating Officer, effective immediately. More recently, Krenzer served as the CEO of Core Digital Media, a major web direct-response advertising firm and one of the web’s key display advertising providers.
The details
Rich Williams, the CEO of Groupon, expressed that the prospect to add a high-horsepower e-commerce pioneer like Krenzer doesn’t happen along quite often. The combination which Krenzer reflects of industry savvy, extensive operational experience and deep understanding of digital marketing is rare. At Groupon, he will have vital oversight for the firm’s North America and global divisions, as well as Global Operations and Global Marketing.
Commenting on his new role, Krenzer expressed that Groupon’s progress in establishing an almost unmatched platform to connect small businesses and customers is impressive, and its imminent opportunities in Local are extremely exciting. The focus, obvious passion and innovation for the customer exhibited around the firm made this role instantly interesting.
Prior to Core Digital Media, Krenzer held several senior executive roles at Experian. In 2012 he headed the management group of ClassesUSA, PriceGrabber and LowerMyBills in taking those firms private, leading to the establishment of Core Digital Media. PriceGrabber was offered to Connexity in 2015 while Rock Holdings bought ClassesUSA and LowerMyBills earlier this year.
During the Q3 2017, Groupon repurchased around 2.384 million shares of its common stock for a total purchase price of $9.2 million. The company repurchased around 16.906 million shares for a total purchase price of $60 million for the year-to-date period as of the close of September 30, 2017.
Common stock of up to $135.2 million was available for repurchase under company’s share repurchase plan as of the close of September 30, 2017. The amount and timing of any share repurchases, if any, are known based on market settings, limitations under company’s share price, amended and restated credit agreement, and other factors, and it may be canceled at any time.
