Groupon Names Rich Williams as COO, Says Finance Chief to Depart

NEW YORK, United States — Groupon Inc., the daily deals company that's transforming into a broader e-commerce website, named Rich Williams chief operating officer and said chief financial officer Jason Child will step down at the end of July.

Child is leaving to relocate to the West Coast, Groupon said Wednesday in a statement. Brian Kayman, vice president of Tax and Treasury, will serve as interim CFO while the company searches for a permanent replacement, Groupon said.

Williams, who joined the Chicago-based company in 2011, will oversee Groupon’s global business and continue in his current position as president for North America. Groupon gets about 40 percent of its revenue from outside the U.S. Last month, it forecast sales for the second quarter that trailed analysts’ estimates, citing the strength of the U.S. dollar.

The company’s board on Wednesday also approved a $200 million increase to its share buyback program, bringing it to $500 million. Repurchases under the program are effective through August 2017, Groupon said in the statement.

Groupon fell 1.2 percent to $5.96 at 11:17 a.m. in New York trading. The shares had declined 27 percent this year through Tuesday.

By Meenal Vamburkar; editors: Cecile Daurat, Lisa Wolfson, Tony Robinson.